Turkey: Business confidence deteriorates again in November
November 25, 2013
The Real Sector Confidence Index published by the Central Bank fell from 107.5 points in October to 104.5 points in November, marking the lowest level since January. Despite the fall, business sentiment remains above the 100-point threshold, which indicates an optimistic outlook for economic activity.
The deterioration in business confidence was mainly due to a less positive assessment for both the total amount of orders for the past three months and export orders in the coming three months. The expected volume of output for the next three months and total employment for the past three months also recorded significant declines.
FocusEconomics Consensus Forecast panelists see fixed investment growth at 3.1% this year, which is down 0.2 percentage points from last month's estimate. In 2014, investment growth is likely to accelerate to 4.6%, which is also down 0.2 percentage points over the previous month's forecast.