Turkey: Business confidence returns to optimistic territory
January 25, 2012
The Real Sector Confidence Index published by the Central Bank increased from 97.2 points in December to 101.8 points in January. The index has thereby crossed back above the 100-point threshold that separates optimistic from pessimistic territory, after having fallen below the dividing line for the first time in two years in December. Nevertheless, business sentiment still remains 11.7 points below the levels observed in the same month last year. The improvement in business sentiment was broad-based, with most of the categories rising over the previous month. In particular, the volume of output for the next three months, as well as export orders for the next three months, experienced the sharpest increases.