Turkey: Business confidence inches down but remains elevated in August
Confidence levels among Turkish firms inched down from the over 14-year high of 114.8 in July to 113.9 in August. The index remained comfortably above the neutral 100-threshold that separates optimism from pessimism midway through the third quarter.
The slight easing of confidence came on the back of somewhat less upbeat views on output expectations, employment expectations, and export order expectations for the next three months. In addition, sentiment towards the total amount of orders in the past three months turned somewhat less rosy, while companies became slightly less inclined to increase capital expenditure in the year ahead.