Turkey’s economic confidence index drops in October
Turkey’s economic confidence index fell by 1.5 percent to 101.4 points in October, the Turkish Statistical Institute (TÜİK) said on Oct. 30, retreating further from a five-year high in August.
The index indicates an optimistic economic outlook when above 100 and a pessimistic one when below 100.
The consumer, services and retail trade confidence indices decreased to 67.3, 101.1 and 104 respectively in October, TÜİK said in a statement.
On the other hand, the real estate sector and construction confidence indices increased to 112.2 and 84.2 respectively, it added.
In the calculation of the economic confidence index, sectoral weight is not directly applied to the five confidence indices themselves but to their normalized individual sub-indices series as equally distributed in each sector. A total of 20 sub-indices of confidence indices for the consumer, real sector, services, retail trade and construction are used in the calculation.