Turkish economic confidence index slips to 94.1 in August

The comprehensive economic confidence index comprises several components, each providing insights into specific sectors.

Notably, the consumer confidence index recorded a substantial decline of 15.1%, dropping to 68.0.

Meanwhile, the real sector, representing the manufacturing industry, experienced a marginal contraction of 0.3%, resulting in a new reading of 104.6.

Among the other sectors, the services confidence index witnessed a decrease of 1.7%, settling at 115.3.

Similarly, the retail trade confidence index saw a slight reduction of 0.4%, reaching 114.3. The construction sector, though experiencing a decline of 0.7%, recorded a confidence index of 87.4 for August when compared to the previous month.

Economic analysts and policymakers will likely examine these figures closely to assess the underlying factors contributing to the decline in economic confidence.

This shift in sentiment across various sectors underscores the dynamic nature of Türkiye's economic landscape and the potential implications for the nation's economic trajectory moving forward. (ILKHA)