Turkey: Business confidence remains on upward trend in February
February 22, 2013
The Real Sector Confidence Index published by the Central Bank rose from 102.1 points in January to 107.3 points in February, which represents its highest level since June 2012. As a result, the index now sits 0.2 points above the level observed in the same month last year and comfortably above the 100-point threshold that separates optimistic from pessimistic territory.
The improvement in business confidence was broad-based, with a majority of sub-components recording better readings over the previous months. The largest gains were seen in the expected volume of output for the next three months as well as in export orders for the next three months. Moreover, prospects for employment in the next three months also recorded a substantial increase.
FocusEconomics Consensus Forecast panellists see fixed investment growth at 5.4% this year, which is down 0.1 percentage points from last month's estimate. In 2014, investment growth is likely to accelerate to 8.3%.