While Turkey Economy confidence index was 98.2 in February, the economy decreased by 2.5% in March to 95.7. The Turkey Economy confidence index decreased stemmed from the decreases in the real sector (manufacturing industry), services, retail trade, and construction sector confidence indices.
If we Compare Turkey Economy to the previous month, in March, the real sector confidence index decreased by 1.6% to 108.2%, the service sector confidence index decreased by 6.2% to 111.3, retail trade confidence index decreased by 3.1% to 116.0. construction sector confidence index decreased by 2.0% to 81.0. The consumer confidence index increased by 1.9% to 72.5.
The Turkish economic confidence index, March 2022
The Turkish economic confidence index, confidence indices and rates of change, March 2022
The Turkish Economy confidence index is a composite index that summarizes the evaluations, expectations, and tendencies of consumers and producers regarding the general economic situation. The index consists of the seasonally adjusted consumer confidence index, the real sector, service, retail trade, and construction sectors confidence indices by weighting and combining them.
In calculating the Turkish Economy confidence index, the weight of each sector is applied equally to the normalized sub-indices of that sector and is not directly applied to the confidence indices. In this context, 20 sub-indices belonging to the consumer, real sector, service, retail trade, and construction sectors are used in the calculation.
The sub-indices used in calculating the Turkish economic confidence index are calculated using the data compiled in the first two weeks of each month.
If the economic confidence index is more significant than 100, it indicates optimism about the general economic situation, and less than 100 indicates pessimism about the general economic situation.