Pessimism on the economic situation grows
In the month of August, the Economic Confidence Index decreased by 9 percent compared to the previous month, falling to 83.9 from 92.2.
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The fact that the Economic Confidence Index if greater than 100, indicates optimism about the general economic situation, while this ratio is lower than 100 indicates pessimism about the economic situation.
According to TurkStat's Economic Confidence Index August 2018 data, the Economic Confidence Index in August fell by 9 percent compared to the previous month, falling to 83.9 from 92.2.
The decline in the index of economic confidence stemmed from the decline in consumer, real sector [manufacturing industry], service, retail trade, and construction sector confidence indices.
In August, consumer confidence index declined to 68.3, real sector [manufacturing industry] confidence index to 96.3, service sector confidence index to 88, retail trade sector confidence index to 93.4 and construction sector confidence index also declined to 68.8 points. (ILKHA)
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