FX.co ★ Turkish Business Morale Slips to Seven-Month Low

Turkey's manufacturing confidence experienced a slight dip to 100.2 in July 2025, down from 100.3 in June, marking its lowest point since January. This minor drop highlights growing concerns over recent order volumes and persistent inventory issues. The decline was mainly caused by a more negative outlook on the total orders received in the last three months (96.0 compared to 100.6 in June), a decrease in confidence regarding current total orders (80.9 compared to 83.3), and a slight weakening in sentiment related to the current stock levels of finished goods (98.7 compared to 98.8). However, there was increased confidence in the anticipated output volume for the next three months (119.2 compared to 114.3), fixed investment spending (106.0 compared to 105.1), the overall business climate (86.3 compared to 85.4), and export expectations (112.7 compared to 112.5).