Economic confidence index rises 1.7 percent in August

ISTANBUL

Türkiye’s economic confidence index increased by 1.7 percent in August, reaching 97.9 points, up from 96.3 in July, the Turkish Statistical Institute (TÜİK) announced on Aug. 28.

This marks a recovery from the 0.4 percent monthly decline recorded in July.

The real sector confidence index rose by 1.7 percent, accelerating from a 0.5 percent increase in the previous month. The services confidence index also climbed 1.1 percent month-on-month in August, following a 0.8 percent drop in July.

Consumer confidence improved by 0.9 percent, a notable rebound compared to the 1.8 percent decline in the previous month. The retail trade confidence index, which had fallen by 0.5 percent, rose by 0.8 percent in August.

Conversely, the construction confidence index fell by 4 percent in August, reversing the 2.2 percent increase seen in July.

The economic confidence index, a key indicator of the overall economic outlook, ranges from 0 to 200. A reading above 100 indicates optimism about the general economic situation, while a figure below 100 reflects a pessimistic outlook.