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Turkiye's economic trust index drops by 2.5% amid consumer pessimism

27 Jun '23
1 min read
Pic: Shutterstock/Nepdar
Pic: Shutterstock/Nepdar

Insights

  • In June 2023, Turkiye's economic and consumer confidence indices dipped by 2.5 per cent and 6.5 per cent, to 101.1 and 85.1, respectively.
  • The country's real sector index, which measures the sentiment in the manufacturing industry, grew modestly by 0.6 per cent to 105.7, as per the TurkStat.
  • Turkiye's retail trade index pushed by 0.9 per cent to 117.7.
Turkiye’s economic confidence index decreased by 2.5 per cent from May's 103.7 to 101.1 in June 2023. This drop mirrored a similar trend in the not seasonally adjusted consumer confidence index, which saw a 6.5 per cent decrease to 85.1 in the same period.

Conversely, the real sector confidence index, which measures the sentiment in the manufacturing industry, saw a modest increase of 0.6 per cent from 105.1 in May to 105.7 in June, the Turkish Statistical Institute (TurkStat) said in a press release.

The retail trade confidence index also experienced growth, rising by 0.9 per cent from 116.7 in May to 117.7 in June.

Fibre2Fashion News Desk (NB)
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