By Aysu Bicer
ANKARA (AA) – Turkey’s economic confidence index posted a monthly increase in July, according to official data released on Thursday.
The index rose by 2.3% to reach 100.1 in July, up from 97.8 in June, the Turkish Statistical Institute (TurkStat) said.
A value above 100 shows an optimistic outlook for the general economic situation, while a value below 100 shows a pessimistic one.
"This increase in economic confidence index stemmed from the increases in real sector (manufacturing industry), services, retail trade and construction confidence indices," TurkStat said.
Among sub-indices in July, services (5.8%), consumer (2.7%), retail trade (3.7%), construction (4.7%) and real sector (2.1%) posted increases on a monthly basis.
Economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations and tendencies about general economic situation.