The manufacturing confidence index in Turkey rose to 92.8 in November 2018 from a nine-and-a-half-year low of 87.6 in the previous month, due to an improvement in expectations over the next three months regarding output (95.7 vs 89.8 in October), export orders (105.4 vs 100.4) and employment (98.0 vs 94.8). In addition, the gauge measuring general business situation jumped to 90.0 in November from 66.4 in October and the fixed investment expenditure sub-index rose to 96.7 from 96.3. Business Confidence in Turkey averaged 99.29 Index Points from 1987 until 2018, 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 95.50 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 105.10 in 12 months time. In the long-term, the Turkey Business Confidence is projected to trend around 101.00 Index Points in 2020, according to our econometric models.