Home News Economic confidence index in Turkey increased by 19.1% in June 2020

Economic confidence index in Turkey increased by 19.1% in June 2020

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Economic Confidence Index, June 2020 in Turkey

Economic confidence index which was 61.7 in May increased by 19.1% in June to 73.5. This increase in economic confidence index stemmed from the increases in consumer, real sector (manufacturing industry), services, retail trade and construction confidence indices.

Consumer confidence index increased by 5.2% and became 62.6, real sector confidence index increased by 22.2% and became 89.8, services confidence index increased by 8.5% and became 55.5, retail trade confidence index increased by 9.3% and became 86.4, construction confidence index increased by 33.1% and became 78.0 in June compared to the previous month.

Economic confidence index, June 2020

Economic confidence index, sectoral indices and the rate of changes, June 2020

The next release on this subject will be on July 30, 2020.

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EXPLANATIONS

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 sub-indices of seasonally adjusted consumer confidence, real sector, services, retail trade and construction confidence indices.

In the calculation of economic confidence index, each sectoral weights are not directly applied to the five confidence indices themselves but to their normalised individual sub-indices series as equally-distributed in each sector. Within this scope, totally 20 sub-indices of confidence indices for consumer, real sector, services, retail trade and construction are used in the calculation.

Sub-indices used in the calculation of economic confidence index are calculated with data collected in the first two weeks of each month.

It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it indicates a pessimistic outlook when it is below 100.


Source: TurkStat
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