Turkey’s economic confidence index down 2.6% m/m in February

By bne IntelliNews February 26, 2015

The statistics institute TUIK on February 26 released the economic confidence index, a monthly composite indicator, encapsulating the evaluations, expectations and tendencies of both consumers and producers on general economic situation.

Accordingly, the economic confidence index fell 2.6% m/m in February, after declining 0.5% m/m in the previous month, TUIK said, adding that the decline in the index stemmed from the decreases in manufacturing industry (real sector) and retail trade confidence indices. The consumer confidence sub-index was up 0.5%, manufacturing index dropped 2.1%, retail sector confidence fell 0.8% and construction index rose 2.9% while the services sector confidence declined 0.8% m/m.

Turkey’s GDP growth eased to 1.7% y/y in the third quarter of 2014 from 2.2% in the second quarter and 4.8% in the first. The government’s GDP growth forecasts for 2014 and 2015 stand at 3.3% and 4%, respectively.

Turkey's Confidence Indices
  Index Value m/m, %
  Dec Jan Feb Feb
Economic 89.81 89.38 87.07 -2.6
Consumer 67.75 67.71 68.06 0.5
Real Sector 108.20 106.50 104.30 -2.1
Services 98.98 101.04 101.94 0.9
Retail 107.25 104.35 103.53 -0.8
Construction 83.43 82.56 84.98 2.9
source: tuik        

Related Articles

Erdogan warns Iraqi Kurds will lose “opportunities” if independence vote proceeds

Turkish President Recep Tayyip Erdogan has warned the Iraqi Kurds that it is in their interests to call off their planned September 25 independence referendum because it “may lead to a process that ... more

Armenia may declare protocols on normalising relations with Turkey “null and void” UN told

Addressing the UN General Assembly, Armenian President Serzh Sarkisian on September 19 warned that Yerevan may be set to declare two protocols aimed at normalising relations with Turkey "null and ... more

Russia’s Rosneft mulls Kurdistan-Turkey-Europe gas pipeline

Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more