Turkiye’s economic confidence falls in June

05:35 Sun, 14 August

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29.Jun .2022 13:30

Turkiye’s economic confidence falls in June

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Turkiye’s economic confidence index posted a decline in June, the country’s statistical authority announced on Wednesday.

The figure fell 3.3% month-on-month to 93.6 in June, from 96.7 in May, a Turkish Statistical Institute (TurkStat) statement said.

Almost all sub-indices except for construction saw declines in the month, with consumer confidence posting the largest decline.

The consumer confidence index dropped by 6.2% from the previous month to 63.4 in June, while the retail trade index contracted 2.3% to 118.7 in the same period.

The sub-indices for the real sector and services decreased by 2.2% and 1.7% to 104.6 and 119.6, respectively.

On the other hand, the construction confidence index increased by 1.7%, reaching 83 in June.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment, AA reports.