Home breadcru News breadcru Industrial breadcru Turkiye's economic confidence rises to 94.3 in Aug from 93.4 in Jul

Turkiye's economic confidence rises to 94.3 in Aug from 93.4 in Jul

30 Aug '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Turkiye’s economic confidence rose to 94.3 points in August from 93.4 points in July, led by an improvement in the outlook for consumers, according to the Turkish Statistical Institute, which recently said confidence among consumers and constructors rose in the month. Sentiment among retailers, firms in the service industry and manufacturers declined.

Consumer confidence rose the most, improving to 72.2 points in the month from 68 in July and 63.4 in June.

It was the first increase in the economic confidence since May, the data showed.

The economic confidence index is a combined measure that includes previously reported indices for confidence among consumers, manufacturers, and the services, retail and construction industries.

The construction confidence index increased by 1.5 per cent to become 86.3 in August compared to the previous month. On the other hand, the real sector (manufacturing industry) confidence index decreased by 1.1 per cent to become 101.4 in the month.

The retail trade confidence index decreased by 0.4 per cent to 112.9 in August.

ALCHEMPro News Desk (DS)

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