Turkey: Business confidence plummets further in January
February 6, 2017
The Real Sector Confidence Index published by the Central Bank of Turkey dropped from 98.4 in December to 97.0 in January, the lowest figure since December 2009 and below the 100-point threshold which separates optimistic from pessimistic sentiment among firms.
January’s result was driven by a deterioration in almost all the sub-categories of the index, with the total amount of orders falling particularly strongly compared to the previous month. Moreover, total employment and export orders deteriorated in January and the general business situation index hit the lowest reading since March 2009. On the other hand, the volume of output improved compared to December.
Author: Oliver Reynolds, Economist