Economic confidence in Türkiye falls in July

Economic confidence in Türkiye falls in July

Index falls 1.8% from month earlier to below 100 mark, official data shows

By Tuba Ongun

ANKARA (AA) – Economic morale in Türkiye weakened in July compared to the prior month, according to official data released on Friday.

The index fell 1.8% month-on-month to 99.3 in July, after a 2.5% decline in June, the Turkish Statistical Institute (TurkStat) data showed.

The confidence index for retail trade dropped 2.6% from the prior month to 114.7 in July.

The construction confidence index fell 0.9% from a month ago to 88.1 in July, while the consumer confidence index plunged 5.9% to 80.1.

The services and real sector – manufacturing industry – confidence indexes edged down by 0.6% and 0.8%, to reach 117.3 and 104.9, respectively.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.

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