Türkiye's economic confidence down in August

By Gokhan Ergocun

ISTANBUL (AA) - Economic confidence was at 94.4 in August, down by 1.3% from July, the Turkish Statistical Institute (TurkStat) revealed on Thursday.

Among sub-indexes, real sector confidence index decreased by 0.7% to 98, while services was down by 2.0% to 111.8 month-on-month in August.

Meanwhile, consumer confidence index increased by 0.6% and became 76.4, retail trade up by 0.8% to 107.9, and construction up by 1.1% to 88.

The economic confidence index, as a vital indicator about the general economic situation, indicates an optimistic outlook if it is above 100, and a pessimistic outlook when it is below 100.