Turkish economic confidence index falls nearly 2% m/m in August

By bne IntelliNews August 28, 2015

The economic confidence index fell 1.9% m/m in August to 84.3 after rising 6% m/m in the previous month, data of the statistics office TUIK showed on August 28.

The economic confidence index is a composite index gauging consumers’ and businesses’ assessments of the economic outlook and their expectations.

According to data of TUIK, consumer confidence index dropped 3.6% m/m in August that came on top of the 2.7% m/m decline in the sub-index in July, while the real sector confidence index fell 0.1% m/m versus 1.4% m/m increase.

Other sub-indices, namely service sector confidence, retail sector confidence, and construction sector confidence, all posted declines in the month with retail sector registering the sharpest decline of 2.6% m/m.

Turkey is headed towards fresh parliamentary elections, which according to some polling agency would produce yet another hung parliament, at a time the clashes between the security forces and PKK intensify. A dangerous combination of political uncertainty and the flare up in violence is likely to continue to hurt consumer and business confidence.

Turkey's Confidence Indices                  
  Dec Jan Feb Mar Apr May Jun Jul Aug
Economic 94.1 93.8 92.1 81.0 83.8 85.3 81.1 85.9 84.3
Consumer 67.7 67.7 68.1 64.4 65.4 64.3 66.4 64.7 62.4
Real Sector 108.2 106.4 104.2 101.2 102.7 104.0 101.7 103.1 103.0
Services 98.8 100.8 101.5 100.9 100.6 100.8 99.5 101.4 100.7
Retail 107.2 104.2 103.4 103.1 101.9 103.4 103.8 104.6 101.9
Construction 83.3 82.5 84.8 83.5 81.4 83.7 85.0 82.7 82.1
source: tuik                  
Read in IntelliNews Pro
Get IntelliNews Pro

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

Most Read

  1. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    2 days ago
  2. Volkswagen doubles exports of Russia-made cars
    8 days ago
  3. Russia's Binbank asks central bank for help
    3 days ago
  4. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    10 days ago
  5. Kremlin to launch massive infrastructure projects in 2018
    2 days ago
  1. Hungary threatens to block Romania’s OECD accession
    16 days ago
  2. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    10 days ago
  3. Economists tangle over risk of a Greek-style collapse in Turkey
    21 days ago
  4. Wild capitalism threatens the untamed rivers of Southeast Europe
    1 month ago
  5. Russia’s government moves from war budget to election budget
    29 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss