Turkey: Business confidence continues to fall in November
November 26, 2012
The Real Sector Confidence Index published by the Central Bank dropped for a seventh consecutive month in November, falling from 102.4 points in October to 101.0 points, its lowest level in 11 months. As a result, the index is now barely above the 100-point threshold that separates optimistic from pessimistic territory. At the current level, business sentiment is 1.3 points below the levels observed in the same month last year. Although the deterioration in business confidence was broad-based, it was mainly driven by a drop in exports orders for the next three months as well as a decline in the total amount of orders in the past three months.