Turkey: Business confidence increases slightly in November
November 24, 2010
The November Real Sector Confidence Index published by the Central Bank inched up from the 107.2 points recorded in October to 107.6 points. Despite the improvement, the index is 15.4 points above the level observed in the same month last year. Moreover, the index is above the 100-point threshold that separates optimistic from pessimistic territory since the start of the year, suggesting that the solid recovery in investment remains firmly entrenched. The improvement in business sentiment reflected more upbeat perceptions regarding fixed investment expenditures and a higher amount of total orders. That said, these results were offset by respondents' increasing pessimism about the volume of exports and total output in the near future.