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Turkey: Economic confidence down in April

Confidence index at 93.9 in April, down 5.1% from March, official data shows

The confidence in the Turkish economy fell month-on-month in April, the statistical authority said on Thursday.

The economic confidence index stood at 93.9 this month, down 5.1% from 98.9 previous month, the Turkish Statistical Institute (TurkStat) said.

A value above 100 shows an optimistic outlook for the general economic situation, while a value below 100, a pessimistic one.

The monthly fall was driven by deteriorations in consumer, real sector (manufacturing industry), services, retail trade, and construction sub-indices.

Consumer confidence posted the largest decline by 7.5% in the same period. The reading for retail trade and construction declined by 5.6% and 3.1%, respectively.

This April, real sector confidence and services also slipped by 2.5% and 2%, respectively, compared to last month.

Source
AA

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