Economic confidence index realized as 70.5 with a 18.5% m/m decrease in December
Turkish Statistical Institute (TUIK) released December economic confidence index.
Economic confidence index decreased by 18.5% compared to previous month decreasing from 86.55 to 70.52 in December. This decrease in economic confidence index stemmed from the decreases in consumer, real sector and services confidence indices.
Consumer confidence index decreased to 63.38, real sector confidence index decreased to 103.6 and services confidence index decreased to 93.35 in December.
Retail trade confidence index increased to 96.13 and construction confidence index increased to 76.15 in December.
Economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations and tendencies about general economic situation. The index is combined by means of a weighted aggregation of normalized sub-indices of consumer confidence, seasonally adjusted real sector (manufacturing industry), services, retail trade and construction confidence indices. Sub-indices are calculated by using data collected in the first two weeks of each month.