Turkiye’s May economic confidence index rises by 2.1% to 96.7 over Apr
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Turkiye’s economic confidence index rose by 2.1 per cent from 94.7 in April to 96.7 in May due to increases in consumer, services and retail trade confidence indices, which rose by 0.4 per cent to 67.6, 6.1 per cent to 121.7 and 1.7 per cent to 121.4 respectively in May over April. The manufacturing industry confidence index fell by 0.7 per cent to 107.
Economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations and tendencies about general economic situation.
Turkiye’s economic confidence index rose by 2.1 per cent from 94.7 in April to 96.7 in May due to increases in consumer, services and retail trade confidence indices, which rose by 0.4 per cent to 67.6, 6.1 per cent to 121.7 and 1.7 per cent to 121.4 respectively in May over April. The manufacturing industry confidence index fell by 0.7 per cent to 107.
An economic confidence index above 100 indicates an optimistic outlook about the general economic situation, whereas a lower than 100 mark indicates a pessimistic outlook, according to the Turkish Statistical Institute.
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