Turkish economic confidence index declines to 101.1 in June

This marks a decrease of 2.5% compared to the previous month when the index stood at 103.7.

The breakdown of the index reveals variations in different sectors. The consumer confidence index saw a significant decline of 6.5%, reaching a value of 85.1.

On the other hand, the real sector (manufacturing industry) confidence index witnessed a modest increase of 0.6%, reaching 105.7. The services confidence index also showed a similar increase of 0.6%, reaching 118.1. The retail trade confidence index experienced a slight growth of 0.9%, reaching 117.7. However, the construction confidence index faced a notable decline of 3.5%, reaching 88.9 in June compared to the previous month.

These changes in the economic confidence index and sector-specific indices reflect the overall sentiment and performance of different sectors within the Turkish economy. The decline in consumer confidence indicates a decrease in optimism among consumers, potentially affecting their spending habits. Conversely, the slight increases in the real sector, services, and retail trade confidence indices suggest some level of stability and positive sentiment in those sectors.

The construction sector, on the other hand, faced a decline in confidence, indicating potential challenges or uncertainties within the industry. These fluctuations in sector-specific indices provide valuable insights into the dynamics of the Turkish economy and its various sectors.

The economic confidence index serves as an important indicator of overall economic sentiment and can influence investment decisions, business activities, and consumer behavior. Monitoring these indices allows policymakers and economists to assess the health and stability of the economy, identify areas of concern, and formulate appropriate measures to address potential challenges. (ILKHA)