Turkey Business Confidence


Turkey: Downward trend in business confidence continues in July

July 25, 2014

The Real Sector Confidence Index published by the Central Bank fell from 110.7 in June to 109.0 in July. July’s print marked the lowest level in four months. Despite the decrease, business sentiment remains above the 100-point threshold, which indicates an optimistic outlook for business conditions.

July’s result mainly reflected sizeable deteriorations in businesses’ expected volume of output in the next three months and export orders for the coming three months. As a result, the overall business situation and expenditure in fixed investment also worsened significantly in July. On the upside, stock of finished goods improved.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 0.7% in 2014, which is unchanged from last month’s estimate. In 2015, panelists expect investment growth to accelerate to 3.6%.

Author: Ricard Torné, Lead Economist

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Turkey Business Confidence Chart

Turkey Business Confidence July 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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