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, %|
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