Turkey: Business confidence recedes from May's two-year high
June 24, 2014
The Real Sector Confidence Index published by the Central Bank fell from 113.3 points in May to 110.7 in June. May’s print marked the highest level since May 2012. Despite the decrease, business sentiment remains firmly entrenched above the 100-point threshold, which indicates an optimistic outlook for business conditions.
June’s result mainly reflected sizeable deteriorations in businesses’ expected volume of output in the next three months and export orders for the coming three months. As a result, the overall business situation worsened in June. On the upside, spending on fixed investment and job prospects experienced an improvement.