Economic confidence down in April in Turkey

Economic confidence down in April in Turkey

ANKARA – Anadolu Agency
Economic confidence down in April in Turkey

Economic confidence in Turkey slipped month-on-month in April, falling by 2 percent to 98.3, the Turkish Statistical Institute (TÜİK) said on April 27.

The decrease stemmed from drops in the real sector, services, retail trade, and construction confidence indices, TÜİK said in a statement.

The four indices declined in the month to 106.8, 97.1, 100.3 and 78.8, respectively. Meanwhile, the consumer confidence index was up 0.8 percent to 71.9 in April.

According to TÜİK, the index indicates an optimistic outlook on the general economic situation when it is above 100, or a pessimistic outlook when it is below 100.

“The economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations, and tendencies about the general economic situation,” TÜİK said.

The next economic confidence figures are due to be out on May 30.

economic confidence, economy, turkey, TÜİK, April