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Turkey Business Confidence December 2019

Turkey: Business sentiment improves in December

Business confidence rose from 102.0 in November to 103.6 in December as Turkish firms grow increasingly more optimistic about the economic outlook. The latest uptick in confidence levels reflected less pessimism regarding the total amount of current orders, while firms’ views on output, employment and export orders in the next three months were more positive. Furthermore, firms are seemingly more likely to increase their investment outlays as the general business situation in Turkey improves.

Inflation expectations for the next twelve months, meanwhile, remained elevated and above the Central Bank target, despite moderating for the seventh consecutive month. Firms’ inflation expectations stood at 14.0% in December, down from 15.1% in November, while the Central Bank expects inflation to drop to 8.2% by end-2020.

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