Turkey’s economic confidence hits five-month high in June

Turkey’s economic confidence hits five-month high in June
By bne IntelliNews June 29, 2016

Confidence in Turkish economy improved for the fifth straight month in June with consumers and companies shrugging off worries about domestic political uncertainties and rising security threats.

The headline confidence index rose by 1.3% m/m in June with consumer confidence improving by 1% on the month, while confidence in the construction and services industries edging up 2.2% m/m and 1.3% m/m respectively, data from the statistics office TUIK showed on June 29.

The sub-index measuring the real sector confidence, however, fell 1.3% m/m, after remaining flat in the previous month. Confidence in the retail industry plummeted with the respective indicator dropping 4% m/m, to follow a 0.1% m/m decline in May.

The attack on Istanbul’s largest airport on June 28 by suspected Islamic State militants has once again highlighted rising security risks, suggesting violence in Syria is spilling over into the country at a time when Turkey is also stepping up fight against the Kurdistan Workers’ Party (PKK).

Still, the impact of the June 28 bombing on Turkish markets have been rather limited. The main stock exchange index fell 0.59% but the lira gained 0.17% against the dollar, supported by Ankara’s efforts to mend ties with Israel and Russia. Investors are optimistic that restoring ties with Moscow and Tel Aviv will boost Turkey’s slowing economy and provide a much needed boost to the country’s struggling tourism industry.

Turkey's Confidence Indices  
  Dec-14 Jul Aug Sep Oct Nov Dec-15 Jan Feb Mar Apr May Jun
Economic 94.9 86.5 86.5 72.6 82.6 104.8 100.8 83.9 71.5 78.3 73.5 82.3 83.3
Consumer 67.7 64.7 62.4 58.5 62.8 77.1 73.6 71.6 66.6 67.0 68.5 68.8 69.4
Real Sector 108.0 103.1 103.1 99.7 103.6 110.2 108.8 105.9 105.2 104.1 105.7 105.7 104.3
Services 98.8 100.4 100.2 98.1 98.2 100.0 99.0 92.5 89.2 93.5 89.9 94.5 95.8
Retail 105.4 103.7 102.0 98.4 100.8 105.4 104.9 108.8 106.2 110.5 104.0 103.8 99.7
Construction 82.7 83.0 82.3 80.9 80.5 84.5 85.1 83.9 82.8 81.4 81.5 79.2 80.9
source: tuik  

 

 

 

 

 

 

 

 

 

Data

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss