Turkey Business Confidence July 2016


Business confidence edges up in July

The Real Sector Confidence Index published by the Central Bank increased from June’s 106.8 to 108.0 in July. As a result, business confidence is moving further above the 100-threshold and indicates an optimistic outlook for business conditions. According to the Central Bank, responses to the survey are submitted between the first and the fifteenth day of the month. Therefore, July’s reading does not include the effect of the 15 July military coup and the subsequent political turmoil.

July’s result showed that businesses are becoming more optimistic as nearly all the categories that comprise the index gained ground over June’s tally. The total amount of orders in the previous three months climbed to a three-year high, while the total amount of orders hit the highest point so far this year. Despite improving, the general business situation remained below the 100-threshold. Negative news came from fixed investment expectations, which fell to the lowest level since 2009.

FocusEconomics Consensus Forecast panelists see fixed investment registering a 2.7% expansion in 2016, which is unchanged compared to last month’s estimate. In 2017, panelists expect investment growth of 3.6%.

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Turkey Business Confidence Chart

Turkey Business Confidence July 2016

Note: Real Sector Confidence Index. Values above 100 indicate an optimistic outlook while values below 100 indicate a pessimistic outlook.
Source: Central Bank of the Republic of Turkey (CBRT).

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