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Turkey Business Confidence January 2022

Turkey: Business confidence rises in January

Business confidence rose to 109.5 in January from December’s over one-year low of 106.1. Consequently, the index moved further north of the neutral 100-threshold that separates optimism from pessimism among firms.

The headline improvement came on the back of more upbeat views on output, employment and export orders in the next three months. Moreover, views regarding order books in the past three months also turned rosier. Attitudes towards stock of finished goods and the general business situation at present turned less pessimistic. On the other hand, firms were less satisfied with the current level of orders.

Meanwhile, producer price inflation expectations continued to rise, surging to 43.5% in January from December’s 35.3%. January’s expectations marked the highest level in the series’ history, which began in 2007, and were likely influenced by ongoing currency volatility and lingering supply constraints.

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