Turkey Business Confidence Drops In August

(RTTNews) - Turkey's business confidence declined in August to its lowest level in nearly a year, after rebounding in the previous month, survey data from the central bank showed Thursday.

The business confidence index fell to 103 from 106.3 in July. The latest reading was the lowest since September last year, when it was 99.7.

The measure reflecting orders in the past three months declined sharply in August. All other sub-indexes, except the one for exports orders in the next three months, dropped.

The central bank also reported that the capacity utilization rate of the manufacturing sector eased to 75.2 percent from 75.7 percent in August. The rate reached a five-month low.