Turkey: Business sentiment improves in November
Business confidence among Turkish firms rose from 100.9 in October to 102.0 in November. The latest uptick came on the back of a slight improvement in the assessment of current conditions, with sentiment regarding both total amount of orders and stocks of finished goods increasing somewhat. Moreover, outlooks on the volume of output in the next three months as well as order books in the last three months were more upbeat. On the other hand, views on employment and export orders in the three months ahead were less optimistic.
Meanwhile, inflation expectations for the next 12 months moderated for the sixth consecutive month in November, falling from 16.2% in October to 15.1%. Yet businesses’ projections remained notably above the Central Bank’s new inflation forecast of 12.0% by the end of this year and 8.2% by end-2020.