Tuba Ongun
28 July 2023•Update: 28 July 2023
ANKARA
Economic morale in Türkiye weakened in July compared to the prior month, according to official data released on Friday.
The index fell 1.8% month-on-month to 99.3 in July, after a 2.5% decline in June, the Turkish Statistical Institute (TurkStat) data showed.
The confidence index for retail trade dropped 2.6% from the prior month to 114.7 in July.
The construction confidence index fell 0.9% from a month ago to 88.1 in July, while the consumer confidence index plunged 5.9% to 80.1.
The services and real sector – manufacturing industry – confidence indexes edged down by 0.6% and 0.8%, to reach 117.3 and 104.9, respectively.
A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.
