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.