Turkey: Downward trend in business confidence continues in December
December 25, 2013
The Real Sector Confidence Index published by the Central Bank fell from 104.5 points in November to 102.1 points in December, marking the lowest level since January 2013. Despite the fall, business sentiment remains above the 100-point threshold, which indicates an optimistic outlook for economic activity.
The deterioration in business confidence was mainly due to a less positive assessment regarding both the expected volume of output over the next three months and the general business situation. Export orders in the next three months also recorded a sizeable drop. Conversely, the total amount of orders over the past three months improved markedly in December.
FocusEconomics Consensus Forecast panelists see fixed investment growth at 4.1% in 2015, which is unchanged compared to last month's estimate. In 2015, panelists expect investment growth to accelerate to 6.0%.