The economic confidence index rose 4.8% m/m to 83.6 in July, data of the statistics office TUIK showed on July 30.
The index that declined to its historically lowest level in June rose as overall business confidence, service sector confidence and retail sector confidence increased in July.
Consumer confidence decreased 2.7% m/m in July after rising 3.4% m/m in the previous month, TUIK said, adding that the increase in retail industry confidence was 0.7% m/m vs 0.3% m/m rise in June. The index measuring business confidence in the construction industry declined 2.8% m/m in July after rising 1.6% m/m in the previous month.
Confidence may take a hit from political uncertainties in the coming period.
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Turkey's Confidence Indices |
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Dec |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
|
Economic |
94.1 |
93.6 |
91.8 |
80.5 |
82.7 |
84.0 |
79.8 |
83.6 |
|
Consumer |
67.7 |
67.7 |
68.1 |
64.4 |
65.4 |
64.3 |
66.4 |
64.7 |
|
Real Sector |
108.3 |
106.4 |
104.2 |
101.1 |
102.6 |
103.8 |
101.5 |
102.9 |
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Services |
98.8 |
100.8 |
101.6 |
100.9 |
100.4 |
100.6 |
99.3 |
100.7 |
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Retail |
107.2 |
104.3 |
103.4 |
103.1 |
101.8 |
103.3 |
103.7 |
104.4 |
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Construction |
83.4 |
82.5 |
84.9 |
83.5 |
81.0 |
83.4 |
84.7 |
82.3 |
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source: tuik |
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