Turkey: Business confidence plunges to two-year low in December
December 26, 2014
The Real Sector Confidence Index published by the Central Bank fell from 102.7 in November to 101.2 in December. The print marked the lowest value since December 2012. Despite the monthly decline in the index, business confidence remains above the 100-point threshold, which indicates an optimistic outlook for business conditions.
December’s result showed that businesses were particularly more pessimistic regarding the total amount of orders and the stock of finished goods. In addition, the general business situation dipped into the red in the same month and job prospects for the coming three months deteriorated markedly. Conversely, firms were more optimistic regarding export orders in the next three months and the total amount of orders in the past three months.