New Report Available: Turkey Oil & Gas Report Q2 2015

Manufacturing Sector Will Remain Main Driver Of Growth

A main driver of stronger real GDP growth in Mexico in the coming years will be robust manufacturing sector output. The country's manufacturing sector, with an estimated value of USD12.6bn in 2013, accounts for 16.6% of GDP. Manufacturing output has averaged annual real growth of 2.0% over the last five years, above Mexico's average real GDP growth of 1.9% over the same period. We expect manufacturing to remain an outperforming sector in Mexico in the coming years, driven by ease of access to a recovering US consumer market. The sector was negatively affected by poor weather in the US earlier this year, but improving manufacturing sector confidence ( see chart below) suggests that a sustained recovery will take place in the coming quarters.

Household Spending Growth To Accelerate

Household spending in Mexico will recover in the coming months and experience a more notable improvement in 2015. Real private consumption growth slowed from 4.9% in 2012 to 2.5% in 2013, and weakened further to 1.4% year-on-year (y-o-y) in H114, due to poor labour market dynamics and the effects of tax hikes implemented in January 2014. However, strong job generation in the manufacturing and construction sectors will drive a decline in unemployment and support stronger household spending in the coming months. Consumer confidence has been improving in recent months ( see chart below), signalling that the effects of the tax hikes are receding. Retail sales have also picked up in recent months, expanding by 1.1% y-o-y in July and 4.4% y-o-y in August, after averaging 0.6% y-o-y growth in H114. We forecast real private consumption growth of 2.6% in 2014 and 3.7% in 2015, up from 2.5% in 2013.

Full Report Details at
- http://www.fastmr.com/prod/956914_turkey_oil_gas_report_q2_2015.aspx?afid=301

The Turkey Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Turkey including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Turkey Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Turkish oil and gas industry.

Key Benefits

* Benchmark BMI's independent oil and gas industry forecasts for Turkey to test consensus views - a key input for successful budgeting and strategic business planning in the Turkish oil and gas market.
* Target business opportunities and risks in the Turkish oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.

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