According to the Turkish Statistics Institute, Economic confidence index increased by 10% compared to previous month increasing from 95.3 to 104.9 in January 2018. This increase in economic confidence index stemmed from the increases in consumer, real sector, services, retail trade and construction confidence indices.
Consumer, real sector, services, retail trade and construction confidence indices increased to 72.3, 110.9, 102, 106.2 and 87 in January, respectively.
The economic confidence index reached 106.4 points in August 2017, recording the highest level in more than five years.
According to TurkStat, the index points to an optimistic outlook on the economic situation when it exceeds 100 points, or a pessimistic view if it is below 100, and economic confidence indicators are due to be released again on February 27.
Explanation: 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 (manufacturing industry), services, retail trade and construction confidence indices.