Turkey’s statistics institute (TUIK) will release the business confidence index and capacity utilisation rate data for February today (February 24).
Business confidence fell for a fourth straight month in January. The confidence index declined to 101.4 in the month from 102.1 in December 2013 while the seasonally adjusted index fell to 104.2 from 110.6. Export order index may improve in February on the back of weak TRY but overall business sentiment is likely to show a deterioration given the on-going political turmoil and the risk of a hard landing.
The other import data release today is the manufacturing capacity utilisation rate (CUR). The CUR fell to 73.9% in January from 76% in December 2013 and the calendar adjusted CUR plummeted to 74.5% from 75.9%. The durable consumer goods manufacturing industry saw its CUR fall to 68.6% in January from 72.9% the previous month while the capital goods manufacturing sector’s CUR dropped to 73.7% from 76.1%.
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