Turkey's economic confidence index at 80.7 in July

By Tuba Sahin

ANKARA (AA) - Turkey's economic confidence index reached 80.7 in July, the Turkish Statistical Institute (TurkStat) announced on Tuesday.

The figure was down 3.3% from June, TurkStat said in a statement, attributing the decrease to a fall in consumer, real sector, services and retail trade confidence indices.

"Consumer, real sector, services and retail trade confidence indices decreased to 56.5, 96.6, 83.5 and 90.4 respectively in July," it added.

According to the report, the sub-index for construction showed improvement, rising to 52.4 this month.

The economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations and tendencies about general economic situation, TurkStat said.

It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it shows a pessimistic outlook with an index below 100, it added.