Turkey: Business confidence recovers in September
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September. Business sentiment fell to a seven-month low in August as July’s failed coup fueled uncertainty among businesses. The index is above the 100-threshold and indicates an optimistic outlook for business conditions.
September’s result showed that businesses are becoming more optimistic as nearly all the categories that comprise the index gained ground compared to the previous month’s result. The total amount of orders in the previous three months increased and export orders hit a four-month high. Moreover, the general business situation also improved in September. Conversely, total employment deteriorated to the lowest level in seven months.
Author: Dirina Mançellari, Senior Economist