Turkey’s economic confidence posts decline in June

(MENAFN) Turkey’s economic confidence index recorded a drop this month, the nation’s statistical authority declared on Wednesday.

As stated by a Turkish Statistical Institute (TurkStat) the number dropped 3.3 percent monthly to 93.6 this month, from 96.7 in the previous month.

Almost all sub-indices apart from construction witnessed a decrease in June, with consumer confidence recoding the biggest drop.

The consumer confidence index fell by 6.2 percent from the prior month to 63.4 in June, whereas the retail trade index contracted 2.3 percent to 118.7 in the same span of time.

The sub-indices for the real area and services dropped by 2.2 percent and 1.7 percent to 104.6 and 119.6, individually.

Meanwhile, the construction confidence index rose by 1.7 percent, to stand at 83 in June.

A rating over 100 indicates an optimistic viewpoint for the whole financial situation, whereas a value under 100 suggests a negative assessment.


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