Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Our Strategy
Financials
Overview
Quarterly Reports 2010
Annual Report 2009
Annual Report 2008
Annual Report 2007
Annual Report 2006
Annual Report 2005
Annual Report 2004
Annual Report 2003
Annual Report 2001
Previous Quarter Results
Pillar Disclosures
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Investor Relations
Financial News
FinancialNews
30-05-23
Turkish Economic Confidence Index Shows Positive Growth in May, Reflecting Optimistic Outlook
(MENAFN) According to official figures released on Monday, Turkey's economic confidence index experienced a notable increase of 1.4 percent to reach 103.7 in May compared to the previous month. The data, provided by the Turkish Statistical Institute (TurkStat), revealed that out of the five sub-indexes monitored, three exhibited upward trends, while one declined, and one remained unchanged.
The construction index demonstrated the highest monthly growth, surging by 4.3 percent to reach 92.2. This significant increase in the construction sector reflects growing optimism and indicates a positive sentiment among construction industry stakeholders regarding the economic climate.
The consumer confidence index also showed promising growth, rising by 4 percent to 91.1. This increase suggests that Turkish consumers hold a more positive outlook regarding the general economic situation. Similarly, the retail trade confidence index witnessed a modest growth of 0.4 percent to reach 116.7, indicating an optimistic sentiment among retail traders.
On the other hand, the services confidence index experienced a slight decline of 0.6 percent to 117.4. Despite this dip, the services sector still maintains a relatively positive outlook. The real sector confidence index, however, remained unchanged at 105.1, signifying a stable sentiment among producers and manufacturers.
The economic confidence index serves as a comprehensive indicator that encompasses the evaluations, expectations, and tendencies of both consumers and producers concerning the overall economic situation. When the index surpasses the threshold of 100, it signifies an optimistic outlook regarding the general economic conditions. Conversely, a value below 100 indicates a pessimistic outlook.
The recent increase in the economic confidence index reflects a growing optimism in Turkey's economic landscape. It suggests that both consumers and producers hold positive expectations for the future, indicating a potential boost in economic activities and investments. The encouraging performance of the construction and retail sectors further reinforces this positive sentiment. However, the slight dip in the services confidence index emphasizes the need for continued efforts to strengthen confidence in this crucial sector. Overall, the latest figures showcase a hopeful outlook for Turkey's economy, setting the stage for potential growth and development.
MENAFN30052023000045014228ID1106349941
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us