Turkey: Business confidence falls to over two-year low but remains optimistic in August
Business confidence fell to 102.1 in August from July’s 103.7. August’s result marked the worst reading since July 2020. However, the index remained above the 100-threshold, indicating optimism among businesses.
The headline print largely reflected a deterioration in sentiment regarding export orders and employment in the next three months. Firms’ attitudes regarding the total amount of orders in the past three months soured. In contrast, firms’ assessment of current order books improved.