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  • 30-08-22

    Turkey’s economic confidence surges 1 percent in August

    (MENAFN) Turkey’s economic confidence index recovered from July low numbers in August, as shown by the nation’s statistical authority on Monday.

    The number surged 1 percent on a monthly basis to reach 94.3 in August, after a 0.2 percent decline last month, the Turkish Statistical Institute (TurkStat) stated in an announcement.

    The drop in the index was an outcome of decrease in consumer and construction area confidence indices, it stated.

    The sub-index for consumer confidence climbed 6.1 percent to 71.2 in August, whereas construction confidence index added 1.5 percent to stand at 86.3.

    However, real sector – manufacturing industry – confidence index declined by 1.1 percent on a monthly basis to 101.4 this month, services confidence index dropped by 1.3 percent to 116.2, whereas retail trade confidence index was decreased 0.4 percent to 112.9.

    A rating over 100 shows a positive viewpoint for the total financial situation, whereas a rate under 100 proposes a negative assessment.

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