Turkey: Business sentiment improves in August
After a brief stint in optimistic territory in August, business confidence fell back into pessimism as the index dropped to 98.8 in September from 102.5 in August. The drop in confidence came on the back of deteriorating views regarding production, order books and employment in the next three months. Meanwhile, firms also became less upbeat about their overall and domestic order books in the current situation.
Inflation expectations, meanwhile, eased for the fourth consecutive month in September, falling to 18.4% from 20.0% in August. However, inflation expectations remain elevated likely owing to currency weakness.