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Turkey’s economic confidence slightly decreases in September

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Turkey’s economic confidence index slightly decreased in September, from 87.1 points in previous month to 86 points, according to the Turkish Statistical Institute (TurkStat).

The institute cited loses in consumer and real sector confidence indices for the decrease in economic confidence, the state-run Anadolu news agency reported.

“Consumer and real sector confidence indices decreased to 55.8 and 99.7, respectively, in September,” TurkStat noted.

It added that services, retail trade and construction confidence indices rose to 89.3, 97.6 and 60.1, respectively, in the month.

TurkStat said the economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations, and tendencies about the general economic situation.

A total of 20 sub-indices are used in the calculation, with data collected in the first two weeks of each month.

A value above 100 shows an optimistic outlook for the general economic situation, while a value below 100, a pessimistic outlook.

In 2018, the index saw its highest value in January at 105.2 points, as the lowest figure was recorded at 75.2 points in November.

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