Turkey Business Confidence


Turkey: Business confidence tumbles to 10-month low in November

November 24, 2014

The Real Sector Confidence Index published by the Central Bank fell from 106.9 in October to 102.7 in November. The print marked the lowest value since January. Despite the monthly decline in the index, business confidence remains well above the 100-point threshold, which indicates an optimistic outlook for business conditions.

November’s result showed that businesses were particularly more pessimistic regarding the total amount of orders in the past three months and export orders for the coming three months. The expected volume of output for the next three months also recorded a significant decline. Conversely, firms were more optimistic regarding fixed investment expenditures and on the general business conditions.

FocusEconomics Consensus Forecast panelists see fixed investment experiencing a 0.6% contraction in 2014, which is unchanged compared to last month’s estimate. In 2015, panelists expect investment growth to rebound to 3.4%, which is also unchanged over the previous month’s estimate.

Author: Ricard Torné, Lead Economist

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Turkey Business Confidence Chart

Turkey Business Confidence November 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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