Turkey: Business confidence rises to eight-month high
March 29, 2012
The Real Sector Confidence Index published by the Central Bank increased from 107.3 points in February to 112.9 points in March, its highest level in eight months. Thus, the index remains above the 100-point threshold that separates optimistic from pessimistic territory for a third consecutive month, after having fallen below the dividing line for the first time in two years last December. Nevertheless, at its current level, business sentiment is still 1.9 points below the levels observed in the same month last year. The rise in business sentiment was broad-based, with most of the categories improving over the previous month. In particular, export orders for the next three months, as well as the total amount of orders for the past three months, experienced the sharpest increases.