The economic confidence index decreased by 1.3 percent on a monthly basis in August to 93.1, the lowest level since May 2021.
The economic confidence index decreased by 1.3 percent month-on-month to 93.1 in August. Turkish Statistical Institute announced the economic confidence index data for August. Accordingly, the index, which was 94.4 in July, decreased by 1.3 percent to 93.1 in August.
In the same period, consumer confidence index increased by 0.6 percent to 76.4. The real sector (manufacturing industry) confidence index decreased by 0.7 percent to 98. The service sector confidence index decreased by 2 percent to 111.8, the retail trade confidence index increased by 0.8 percent to 107.9, and the construction confidence index increased by 1.1 percent to 88.
An economic confidence index greater than 100 indicates optimism regarding the general economic situation, while an index less than 100 indicates pessimism regarding the general economic situation.