Türkiye's economic confidence continues improvement in June

Following its May recovery, Türkiye’s economic confidence increased slightly in June. It rose by 0.1% month-on-month to 96.71, according to the Turkish Statistical Institute (TUIK).

Turkey’s seasonally adjusted construction confidence index slid by 1.7 points in June to 86.9, notes Kallanish.

An index above 100 indicates an optimistic outlook, whereas below 100 indicates a pessimistic outlook.

Turkey’s June consumer confidence index increased by 0.3 points month-on-month to 85.1.

Confidence indices rose by 0.4 points in services while falling by 2.5 in retail trade and 0.2 in the real sector.

Meanwhile, the Turkish economy grew by 2% year-on-year and 1% quarter-on-quarter in the first quarter, falling short of economists’ forecasts. On a sectoral basis, the data revealed a contraction in both agriculture and industry, while the services sector remained the primary driver of growth.