Turkey Business Confidence February 2016

Turkey

Turkey: Rise in business confidence defies geopolitical threats

February 23, 2016

The Real Sector Confidence Index published by the Central Bank improved moderately in February, rising from 103.3 in January to 104.5. With this reading, Turkish businesses continue to defy rising regional instability and the economic sanctions imposed by Russia at the start of the year. As a result, business confidence remains above the 100-point threshold and indicates an optimistic outlook for business conditions.

February’s result showed that businesses were much more optimistic regarding the expected volume of output for the next three months as well as the total amount of export orders in the coming three months, which hit a nearly one-year high. The general business situation also improved in February. On the other hand, the total amount of orders in the previous three months fell to its lowest level since March 2015.

FocusEconomics Consensus Forecast panelists see fixed investment registering a 2.6% expansion in 2016, which is down 0.1 percentage points compared to last month’s estimate. In 2017, panelists expect investment growth of 4.2%.


Author: Ricard Torné, Head of Economic Research

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Turkey Business Confidence February 2016

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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