Turkey: Economic confidence index at 51.3 in April

ANKARA

Turkey's economic confidence index stood at 51.3 in April, according to the country's statistical authority on Wednesday.

The April figure decreased from 91.8 last month or by 44.1%, amid lockdown measures to stem the spread of coronavirus, the Turkish Statistical Institute (TurkStat) data showed.

The month-on-month decrease was driven by deteriorations in consumer, real sector, services, retail trade and construction confidence indices.

The services confidence index fell the most by 50.1% compared to last month.

Construction and real sector confidence indexes followed it with 42.2% and 36.8% drops respectively.

Subindexes on retail trade and consumer confidence went down 26% and 5.8%, respectively.

The economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations and tendencies about general economic situation, according to TurkStat.

It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it shows a pessimistic outlook with an index below 100.