Turkey: Business confidence recedes in July
July 25, 2017
The Real Sector Confidence Index published by the Central Bank edged down from its over-three-year high of 112.4 in June to 109.5 in July. Despite July’s decline, the index is still situated well above the 100-point threshold that indicates optimism among firms.
The July report indicated an overall deterioration in companies’ assessments of the economy’s health in the last three months. In particular, confidence dropped sharply in firms’ views regarding total amount of orders for the past three months and views on the general business situation. The outlook for output volumes and future employment were also more pessimistic, and was only partially offset by small gains in optimism in current total order amounts, current level of stocks and forecasted export orders.
Author: Lindsey Ice, Economist