Türkiye’s economic confidence rises 1.8 percent in June

ISTANBUL  

Türkiye’s economic confidence index increased 1.8 percent month-on-month in June, driven by gains across all major sectors, according to official data released by the Turkish Statistical Institute (TÜİK) on June 29.

The economic confidence index rose to 98.9 from 97.2 in May.

The improvement reflected stronger sentiment among consumers as well as businesses in manufacturing, services, retail trade and construction.

Consumer confidence also rose 2.5 percent from the previous month to 87.9.

The real sector (manufacturing industry) confidence index increased 1 percent to 102.0, while the services confidence index climbed 1.4 percent to 110.5.

Meanwhile, retail trade confidence edged up 0.3 percent to 112.8, and the construction confidence index increased 1.1 percent to 83.0.

The economic confidence index is considered an indicator of the overall outlook for the economy. A reading above 100 signals optimism about the general economic situation, while a level below 100 indicates a more cautious outlook.