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The Turkish Statistical Institute (TurkStat) has announced economic confidence index data for July. The confidence index decreased by 3.3 percent compared to June.
The TurkStat attributed 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 said.
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 the general economic situation the TurkStat said, explaining that the index is combined by means of a weighted aggregation of sub-indices of seasonally adjusted consumer confidence, real sector, services, retail trade and construction confidence indices.
It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it indicates a pessimistic outlook when it is below 100, it added. (HA/VK)
