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The Economic Confidence Index in Türkiye fell to its lowest level since May 2021, declining by 1.3% from the previous month to 93.1 in August, according to the Turkish Statistical Institute (TurkStat).
This marked the lowest point in economic confidence in over three years, reflecting growing concerns about the country's economic situation.
The index increased by 0.6% to 76.4 in August, while the real sector (Manufacturing Industry) index decreased by 0.7% to 98.
Index
Index
Percentage change over
the previous month (%)
Percentage change over
the previous month (%)
July
August
July
August
Economic confidence index
94.4
93.1
-1.5
-1.3
Consumer confidence index
75.9
76.4
-3.1
0.6
Real sector confidence index
98.7
98.0
-1.8
-0.7
Services confidence index
114.1
111.8
-1.1
-2.0
Retail trade confidence index
107.1
107.9
-1.5
0.8
Construction confidence index
87.1
88.0
-0.9
1.1
Index values are seasonally adjusted. There is no seasonal effect in the consumer confidence index.
The services sector index dropped by 2% to 111.8, whereas the retail trade sector saw a 0.8% rise to 107.9. The Construction Sector Confidence Index also improved, increasing by 1.1% to 88.
The index ranges from 0 to 200, with a value above 100 indicating optimism about the general economic situation and a value below 100 signaling pessimism.
The current level of 93.1 suggests a prevailing pessimistic outlook on the economy.
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