Turkey: Business confidence rebounds in September
September 25, 2013
The Real Sector Confidence Index published by the Central Bank rose to 108.5 points in September, up from the 107.5 points registered in August, which had marked the lowest level in seven months. As a result, business sentiment remains above the 100-point threshold for the ninth month in a row, which indicates an optimistic outlook for economic activity.
The improvement in business confidence was mainly due to a strong increase in both export orders and the expected volume of output for the next three months. On the other hand, the general business situation deteriorated slightly in September, thereby remaining in the red for the third consecutive month.
FocusEconomics Consensus Forecast panelists see fixed investment growth at 3.3% this year, which is down 0.4 percentage points from last month's estimate. In 2014, investment growth is likely to accelerate to 5.8%.