Turkey: Business confidence falls to over seven-year low in December
January 25, 2017
Turkey's Real Sector Confidence Index published by the Central Bank dropped from 98.4 in December to 97.0 in January, the lowest figure in over seven years and below the 100-point threshold which separates pessimistic from optimistic sentiment among firms.
January’s result continued December’s precipitous drop and was driven by a deterioration in almost all the sub-categories of the index, with the general business situation, total employment and volume of total orders sub-categories suffering particularly large falls compared to the prior month. Export orders bucked the trend with a substantial improvement in January relative to December.
Author: Christopher Thomas, Economist