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Turkey Business Confidence May 2023

Turkey: Business confidence hits highest reading since May 2022 in May

Business confidence rose to 108.3 in May from April’s 108.0. May’s result marked the best reading since May 2022. Consequently, the index remained above the 100-threshold, indicating optimism among businesses.

The uptick came on the back of more optimistic views regarding foreign demand and output levels in the next three months. That said, firms grew more pessimistic about current operating conditions and fixed investment in the year ahead.

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