Turkey Business Confidence

Turkey

Turkey: Business confidence reaches highest level in two years

May 23, 2014

The Real Sector Confidence Index published by the Central Bank climbed from 112.7 points in April to 113.3 in May. The print marked the highest level since May 2012. As a result of the increase, business sentiment rose even further above the 100-point threshold, which indicates an optimistic outlook for business conditions.

May’s result mainly reflected notable improvements in the total amount of orders in the past three months, in spending on fixed investment as well as in businesses’ views regarding their general business situation. The expected volume of output in the next three months also gained some ground over the previous month. Conversely, the current amount of stocks of finished goods experienced the largest drop. Overall, business sentiment benefited from an improving political scenario following the 30 March local election.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 0.1% in 2014, which is up 0.3 percentage points compared to last month’s estimate. In 2015, panelists expect investment growth to accelerate to 3.9%.


Author: Ricard Torné, Lead Economist

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Turkey Business Confidence May 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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