FX.co ★ Turkey Business Morale Improves in August

Turkey’s manufacturing confidence index edged up to 102.8 in August 2026 from a three-month low of 102.2 in July, reflecting a slight improvement in sentiment among manufacturers. The uptick was driven by a rebound in total orders over the past three months (104.4 vs. 99.9), increased fixed investment expenditure (105.5 vs. 104.7), and a modest rise in current total orders (84.8 vs. 84.5). Output volumes strengthened to 121.1 from 119.3, while finished goods inventories increased to 98.1 from 97.0. Export orders also rose, to 118.3 from 116.6, signaling firmer external demand. However, the overall improvement was restrained by a deterioration in the general business outlook, which declined to 86.7 from 90.2, and by weaker employment expectations for the next three months, which fell to 103.3 from 105.2.