Turkish business confidence jumps but CUR declines again in January

Turkish business confidence jumps but CUR declines again in January
By bne IntelliNews January 26, 2018

Turkey’s business sentiment jumped by 5% m/m to 108.3 in January following declines in the previous three months, central bank data showed on January 25.

The confidence index dropped to 103.3 in December from 111.6 in September.

Five of the business sentiment survey’s eight main sub-indices recovered in January compared to the previous month’s readings. Export orders for the next three months jumped to 118.1 in January from 99.4 in December.

The central bank also reported on January 25 that the capacity utilisation rate (CUR) of Turkish manufacturing declined to 78.2% in January from 79% in December.

Also on January 25, the statistics institute TUIK announced that business sentiment in construction, retail and services recovered in January.

Services confidence increased by 6% m/m after declining 3.5% m/m in December while retail confidence rose by 5.6% m/m after the slight 0.7% m/m rise recorded in December. Construction confidence increased by 6.7% m/m after declining 1% m/m in December.

Consumer sentiment in Turkey jumped by 11% m/m in January to 72.3. That was the highest level recorded since May last year, following declines posted over the previous five months in a row.