Economic confidence index plunges 4 percent: TÜİK data
ISTANBUL
The economic confidence index declined by 4.2 percent month-on-month to 96.6 in April after rising 1.6 percent in March, the Turkish Statistical Institute (TÜİK) said on April 29.
It indicates an optimistic outlook about the general economic situation when the economic confidence index is above 100.
Consumer confidence, which improved 4.6 percent monthly in March, plunged by 2.3 percent in April to 83.9 points, while the real sector confidence index declined 2.3 percent after advancing 0.4 percent in the previous month to 100.8 points.
Confidence in the services sector was down 4.3 percent, comparing unfavorably with the 0.2 percent increase in the confidence index for this sector in March.
The sub-index of confidence in the retail industry declined 2.5 percent month-on-month, which came on top of the similar 2.5 percent decline recorded in March.
The monthly decline in the construction sector confidence index accelerated from 0.5 percent in the previous month to 4.2 percent in April to 85.1 points, according to data from the statistics authority.
