Turkey Business Confidence December 2016

Turkey

Turkey: Business confidence plummets in December

December 27, 2016

The Real Sector Confidence Index published by the Central Bank dropped from 103.7 in November to 98.4 in December, the lowest figure in four years and below the 100-point threshold which separates optimistic from pessimistic sentiment among firms.

December’s result was driven by a deterioration in almost all the sub-categories of the index, with the volume of output, total orders and export orders sub-categories suffering particularly large falls compared to the prior month. Total employment was the only sub-category to buck the trend with a slight improvement in December relative to November.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.6% in 2017, which is unchanged from last month’s estimate. In 2018, panelists expect fixed investment to grow 3.4%.


Author:, Economist

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Turkey Business Confidence December 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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