Turkey: Business confidence plummets in December
December 27, 2016
The Real Sector Confidence Index published by the Central Bank dropped from 103.7 in November to 98.4 in December, the lowest figure in four years and below the 100-point threshold which separates optimistic from pessimistic sentiment among firms.
December’s result was driven by a deterioration in almost all the sub-categories of the index, with the volume of output, total orders and export orders sub-categories suffering particularly large falls compared to the prior month. Total employment was the only sub-category to buck the trend with a slight improvement in December relative to November.
Author: Oliver Reynolds, Economist