The manufacturing confidence index in Turkey dropped to a five-month low of 98.3 in July 2019 from 102.5 in the previous month, as export orders outlook deteriorated (112.8 vs 116.1 in June). Meanwhile, there was an improvement in expectations over the next three months regarding output (111.5 vs 111.0) and employment (105.6 vs 105.1). The fixed investment expenditure sub-index fell to 101.5 in July from 102.2 in June; and the gauge measuring general business situation declined to 89.9 from 90.2. Business Confidence in Turkey averaged 99.27 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 94.00 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.