News Flash

Turkiye's economic confidence index drops in August

04 Sep '24

1 min read

Turkey's economic confidence index drops in August

Pic: Adobe Stock

Insights

Turkiye's economic confidence index decreased by 1.3 per cent in August 2024 to 93.1, as per Turkstat.
Consumer confidence rose by 0.6 per cent to 76.4, and the retail trade confidence index increased by 0.8 per cent to 107.9.
However, the country's real sector confidence index, especially in manufacturing, declined by 0.7 per cent to 98 in August.

Turkiye's economic confidence index fell by 1.3 per cent in August, declining from 94.4 in July to 93.1, according to the latest data released by the Turkish Statistical Institute (Turkstat).

While the overall economic confidence index saw a decline, the performance across different sectors varied. The consumer confidence index showed a slight increase, rising by 0.6 per cent to reach 76.4 in August.

However, confidence within the real sector, particularly the manufacturing industry, experienced a downturn. The real sector confidence index decreased by 0.7 per cent, falling to 98. On a more positive note, the retail trade confidence index saw an increase of 0.8 per cent, climbing to 107.9.

Fibre2Fashion News Desk (DP)

More Turkish Statistical Institute (TurkStat) News... More Textiles News - Turkiye...