Skyline at golden hour in Turkey

Turkey Business Confidence July 2019

Turkey: Business sentiment drops in July

Business confidence dropped markedly from 102.5 in June to 98.3 in July, opening the third quarter on a sour note. The deterioration in sentiment came on the back of worsening outlooks for production and overall order books—due to both weakening domestic and export new orders—over the past three months and currently, as well as easing confidence regarding export orders in the next three months. However, a more upbeat view on production and employment in the three months ahead cushioned the fall in sentiment somewhat.

Meanwhile, inflation expectations eased for the third month running in July, with firms expecting inflation to moderate from 22.7% to 21.6%. Inflation expectations remained elevated, however, and are likely influenced by the ongoing weakness in the currency—on 24 July, the lira depreciated 7.4% against the US dollar in year-to-date terms. However, in recent weeks the lira has shown resilience amid rising geopolitical tensions.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest