Home News Economic confidence index in Türkiye decreased by 0.3% in February to 99.1

Economic confidence index in Türkiye decreased by 0.3% in February to 99.1


Economic Confidence Index in Türkiye, February 2023

Economic confidence index realized as 99.1

Economic confidence index which was 99.3 in January decreased by 0.3% in February to 99.1.

Real sector (manufacturing industry) confidence index decreased by 1.0% and became 102.4, services confidence index decreased by 2.2% and became 115.5, retail trade confidence index decreased by 2.4% and became 123.1, construction confidence index decreased by 3.6% and became 89.8 in February compared to the previous month. On the other hand, consumer confidence index increased by 4.3% and became 82.5 in February.

Economic confidence index, confidence indices and the rate of changes, February 2023

Index Percentage change over
the previous month (%)
January February January February
Economic confidence index 99.3 99.1 1.3 -0.3
Consumer confidence index 79.1 82.5 4.6 4.3
Real sector confidence index 103.4 102.4 1.8 -1.0
Services confidence index 118.1 115.5 -1.7 -2.2
Retail trade confidence index 126.2 123.1 -1.0 -2.4
Construction confidence index 93.2 89.8 0.6 -3.6

Index values are seasonally adjusted. There is no seasonal effect in the consumer confidence index.

The next release on this subject will be on March 30, 2023.


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 consumer confidence, seasonally adjusted 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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