Turkey: Business confidence tumbles to 10-month low in November
November 24, 2014
The Real Sector Confidence Index published by the Central Bank fell from 106.9 in October to 102.7 in November. The print marked the lowest value since January. Despite the monthly decline in the index, business confidence remains well above the 100-point threshold, which indicates an optimistic outlook for business conditions.
November’s result showed that businesses were particularly more pessimistic regarding the total amount of orders in the past three months and export orders for the coming three months. The expected volume of output for the next three months also recorded a significant decline. Conversely, firms were more optimistic regarding fixed investment expenditures and on the general business conditions.