Despite rise, confidence in economy remains pessimistic
The economic confidence index increased by 1.7% in August, reaching 97.9. However, despite the rise, the index remained below the critical threshold of 100, continuing the pessimistic outlook.
The Turkish Statistical Institute (TÜİK) announced the economic confidence index data for August.
The economic confidence index rose by 1.7% in August to 97.9.
Compared to the previous month, in August the consumer confidence index increased by 0.9% to 84.3, the real sector (manufacturing industry) confidence index increased by 1.7% to 100.6, the services sector confidence index rose by 1.1% to 111.1, the retail trade confidence index increased by 0.8% to 108.8, while the construction sector confidence index decreased by 4.0% to 85.3.
INDEX BELOW 100
An index above 100 indicates optimism about the general economic situation, while an index below 100 indicates pessimism.
Despite the 1.7% increase in August, the index remained below 100 at 97.9.
