Economic confidence index, encapsulating evaluations, expectations and tendencies of consumers and producers about general economic situation, fell again in December, after a recovery in October and November.
According to Turkstat data, fell by 3.8 percent to 100.81 in December, compared to previous month. Economic confidence index indicates an optimistic outlook about the general economic situation when the index is above 100, on the contrary it indicates a pessimistic outlook when it is below 100.
This decrease in economic confidence index stemmed from the decline in consumer, real sector (manufacturing industry), services and retail trade confidence indices, said Turkstat statement.
The index has declined to 72.9 in September due to political uncertainties, security concerns and high rates of decrease in value. This number has marked the lowest recorded since January 2012, when Turkstat has started collecting the data. The index, later on, rose to 82.9 in October and 104.82 in November.
The index is combined by means of a weighted aggregation of normalized sub-indices of consumer confidence, seasonally adjusted real sector (manufacturing industry), services, retail trade and construction confidence indices.
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