July 28, 2022
Economic Confidence Index in Türkiye, July 2022
Economic confidence index realized as 93.4
Economic confidence index which was 93.6 in June decreased by 0.2% in July to 93.4.
Real sector (manufacturing industry) confidence index decreased by 2.0% and became 102.5, services confidence index decreased by 1.5% and became 117.8, retail trade confidence index decreased by 4.5% and became 113.4 in July compared to the previous month. On the other hand, consumer confidence index increased by 7.4% and became 68.0, construction confidence index increased by 2.4% and became 85.0 in July.
Economic confidence index, confidence indices and the rate of changes, July 2022
| Index | Percentage change over the previous month (%) |
|||
|---|---|---|---|---|
| June | July | June | July | |
| Economic confidence index | 93.6 | 93.4 | -3.3 | -0.2 |
| Consumer confidence index | 63.4 | 68.0 | -6.2 | 7.4 |
| Real sector confidence index | 104.6 | 102.5 | -2.2 | -2.0 |
| Services confidence index | 119.6 | 117.8 | -1.7 | -1.5 |
| Retail trade confidence index | 118.7 | 113.4 | -2.3 | -4.5 |
| Construction confidence index | 83.0 | 85.0 | 1.7 | 2.4 |
Index values are seasonally adjusted.
The next release on this subject will be on August 29, 2022.
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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 seasonally adjusted consumer confidence, 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: Turkish Statistical Institute (TurkStat)
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