Turkey Business Confidence

Turkey

Turkey: Business confidence deteriorates slightly in October

October 27, 2014

The Real Sector Confidence Index published by the Central Bank fell from 107.6 in September to 106.9 in October. Despite the monthly decline in the index, business confidence remains well above the 100-point threshold, which indicates an optimistic outlook for business conditions.

October’s result showed that businesses were particularly more pessimistic regarding export orders and the expected volume of output for the coming three months. Conversely, firms were significantly more optimistic regarding the amount of orders in the past three months. In addition, the general business conditions index declined further in October and now sits at its lowest level in seven months.

FocusEconomics Consensus Forecast panelists see fixed investment experiencing a 0.6% contraction in 2014, which is unchanged compared to last month’s estimate. In 2015, panelists expect investment growth to rebound to 3.4%, which is also unchanged over the previous month’s estimate.


Author: Ricard Torné, Lead Economist

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Turkey Business Confidence October 2014

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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