FX.co ★ Turkish Business Morale at 10-Month High

The manufacturing confidence index in Turkey advanced to 104.1 in March 2025, up from 102.4 in the previous month. This represents the highest level achieved since May 2024, driven by strengthened expectations for production, which rose to 124 from February's 115, and employment, which increased to 104.3 from 103.6. Additionally, there was an improvement in the evaluations of the current order levels, which climbed to 84.4 from 83.4, and the inventory of finished goods, slightly bettering from 99.7 to 97.2. However, projections for export orders saw a decline, dropping to 117.7 from 121.9 over the next three months. Concurrently, the indicator for fixed investment expenditure fell to 107.1 from 108.5, yet the overall business climate improved, rising to 96.5 from 93.