Turkey Business Confidence July 2021

Turkey

Turkey: Business confidence rises further in July

July 26, 2021

Turkish business confidence rose from an over seven-year high of 113.0 in June to an over 14-year high of 114.8 in July, likely boosted by the further reopening of the economy at the start of the month. Consequently, the index moved further north of the neutral 100-theshold that separates optimism from pessimism.

The uptick came on the back of rosier employment and export orders expectations in the next three months, while views on production in the coming three months remained optimistic despite softening slightly. Furthermore, firms’ assessment of the general business situation improved in the month and companies expected to increase capital expenditure in the year ahead. On the other hand, attitudes towards order books and stocks of finished goods at present remained downbeat and weighed on the headline reading.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 4.4% in 2021, which is unchanged from last month’s forecast, and to expand 5.4% in 2022.


Author:, Economist

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Turkey Business Confidence July 2021

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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