Turkey Business Confidence


Turkey: Business confidence falls to six-month low

August 25, 2014

The Real Sector Confidence Index published by the Central Bank fell from 109.0 in July to 106.8 in August. August’s reading marked the lowest level in six months. Despite the monthly decrease in the index, business confidence is still above the 100-point threshold, which indicates an optimistic outlook for business conditions.

August’s result showed a broad-based deterioration. Accordingly, businesses’ expectations regarding volume of output, total employment and export orders for the coming three months fell to their lowest level in seven months. In addition, expenditure in fixed investment also worsened significantly in August, falling to the levels last seen in February 2010. On the upside, stock of finished goods improved.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 0.7% in 2014, which is unchanged from last month’s estimate. In 2015, panelists expect investment growth to accelerate to 3.6%.

Author: Ricard Torné, Lead Economist

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Turkey Business Confidence Chart

Turkey Business Confidence August 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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