Home News Economic confidence index in Türkiye which was 99.1 in February decreased by...

Economic confidence index in Türkiye which was 99.1 in February decreased by 0.2% in March to 98.8

115
0

Economic Confidence Index in Türkiye, March 2023

Economic confidence index realized as 98.8

Economic confidence index which was 99.1 in February decreased by 0.2% in March to 98.8.

Consumer confidence index decreased by 2.9% and became 80.1, retail trade confidence index decreased by 4.4% and became 117.7, construction confidence index decreased by 1.5% and became 88.5 in March compared to the previous month. On the other hand real sector (manufacturing industry) confidence index increased by 1.7% and became 104.1, services confidence index increased by 1.1% and became 116.8 in March.Economic confidence index, confidence indices and the rate of changes, March 2023

Index Percentage change over
the previous month (%)
February March February March
Economic confidence index 99.1 98.8 -0.3 -0.2
Consumer confidence index 82.5 80.1 4.3 -2.9
Real sector confidence index 102.4 104.1 -1.0 1.7
Services confidence index 115.5 116.8 -2.2 1.1
Retail trade confidence index 123.1 117.7 -2.4 -4.4
Construction confidence index 89.8 88.5 -3.6 -1.5

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

The next release on this subject will be on April 27, 2023.
___________________________________________________________________________________________________

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 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
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Previous articleTürkiye maintains its policy rate at 8.5 percent
Next articleIn March, consumer confidence in Belgium decreased slightly

LEAVE A REPLY

Please enter your comment!
Please enter your name here