The manufacturing confidence index in Turkey dropped to 98.8 in September 2019 from 102.5 in the previous month, amid a deterioration in expectations over the next three months regarding output (109.9 vs 112.5 in August), export orders (117.0 vs 118.8), and employment (104.5 vs 106.1). Also, the current assessement on total amount of orders declined (75.6 vs 80.9), as well as that on amount of stocks of finished goods (94.8 vs 96.4). The fixed investment expenditure sub-index went down to 100.6 in September from 102.6 in August; and the gauge measuring general business situation fell to 97.3 from 101.9. Business Confidence in Turkey averaged 99.28 Index Points from 1987 until 2019, reaching an all time high of 123.30 Index Points in December of 1987 and a record low of 52.60 Index Points in December of 2008.
Business Confidence in Turkey is expected to be 101.90 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Turkey to stand at 100.00 in 12 months time. In the long-term, the Turkey Business Confidence is projected to trend around 104.00 Index Points in 2020, according to our econometric models.