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Turkey Business Confidence May 2021

Turkey: Business confidence inches down in May

Business confidence dropped to 110.3 in May from April’s 111.0. However, the index remained above of the 100-threshold, separating optimism from pessimism.

The downtick reflected greater pessimism regarding total amount of orders at present, and less optimistic views on expected output and employment in the next three months. On the other hand, firms were more upbeat about export orders in the next three months. Lastly, sentiment regarding the general business situation improved although it just remained in pessimistic territory.

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