Turkey’s economic confidence index posts decrease in June| MENAFN.COM

Wednesday, 10 August 2022 05:44 GMT

Turkey’s economic confidence index posts decrease in June


(MENAFN) The Turkish statistics agency stated on Wednesday that the nation’s economic confidence index decreased in June.

According to a declaration from the Turkish Statistical Institute (TurkStat), in June, the number dropped from 96.7 in May to reach 93.6, a 3.3 percent decrease month-over-month.

With the exception of construction, almost all sub-indices experienced reductions in the month, with consumer confidence recording the biggest fall. On the other hand, in June, the consumer confidence index fell by 6.2 percent from May to end 63.4, whereas the retail trade index fell by 2.3 percent to close118.7 in the same month.

The real sector sub-index fell by 2.2 percent, whereas the services sub-index fell by 1.7 percent, to finish 104.6 and 119.6, correspondingly. At the same time, in June, the construction confidence index improved by 1.7 percent to hit 83.

A score above 100 denotes a positive evaluation of the state of the economy as a whole, whereas a score below 100 denotes a pessimistic view.

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