Economic confidence in Türkiye tapers off in June

Economic confidence in Türkiye tapers off in June

Index drops 2.5% from month earlier, official data shows

By Tuba Ongun

Economic morale in Türkiye tapered off further in June compared to a month earlier, according to official data released on Thursday.

The economic confidence index decreased 2.5% from the prior month to 95.8 in June, the Turkish Statistical Institute (TurkStat) data showed.

The figure accelerated from May's 0.8% decline.

All sub-indexes dropped in June with the largest fall seen in consumer confidence with 2.7% to 78.3.

The confidence index for the retail trade dove 2.6% month-on-month to 108.8 in June.

The real sector – the manufacturing industry – and services indexes went down by 1.9% and 1.5%, to 100.5 and 115.4, respectively, in the same period.

The construction sector confidence index suffered a 0.5% loss to 87.9 in June.

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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