Turkey: Business confidence declines in June
June 27, 2012
The Real Sector Confidence Index published by the Central Bank fell from 113.8 points in May to 108.1 points in June. Despite the deterioration, the index remains above the 100-point threshold that separates optimistic from pessimistic territory for a sixth consecutive month. That said, at the current level, business sentiment is 6.6 points below the levels observed in the same month last year. The decline in business confidence was broad-based, with most of the categories deteriorating over the previous month. In particular, export orders for the next three months as well as the expected volume of output for the next three months experienced the sharpest declines.