Turkey: Business confidence virtually unchanged in April
April 24, 2013
The Real Sector Confidence Index published by the Central Bank fell slightly from 112.1 points in March to 112.0 points in April. As a result, the index now sits 4.0 points below the level observed in the same month last year but still remains comfortably above the 100-point threshold that separates optimistic from pessimistic territory.
The deterioration in business confidence was mainly due to a substantial fall in export orders for the next three months as well as in the expected volume of output for the next three months. On the other hand, fixed investment expenditure recorded a strong increase. Meanwhile, the general business situation improved marginally.
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%.