Turkey Business Confidence March 2016

Turkey

Turkey: Business confidence in March hits 10-month high

March 22, 2016

Despite mounting geopolitical risks, business sentiment in March hit its highest level since May 2015 as firms are increasingly confident that the supportive-growth stance adopted by the government will bolster economic growth. The Real Sector Confidence Index published by the Central Bank rose from 104.5 in February to 106.0 in March. As a result, business confidence remains above the 100-threshold and indicates an optimistic outlook for business conditions.

March’s result showed that businesses were much more optimistic regarding the expected volume of output for the next three months as well as the total amount of export orders in the coming three months. Despite remaining below the 100-threshold, the general business situation also improved in March. On the other hand, fixed investment expectations declined in the same month.

FocusEconomics Consensus Forecast panelists see fixed investment registering a 2.8% expansion in 2016, which is up 0.2 percentage points compared to last month’s estimate. In 2017, panelists expect investment growth of 4.3%.


Author: Ricard Torné, Lead Economist

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Turkey Business Confidence March 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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