Türkiye's economic confidence rises in July, nears optimism mark

Türkiye’s economic confidence index rose 0.9% month-on-month to 99.8 in July, official data showed on Thursday. The index increased from 98.9 in June, according to the Turkish Statistical Institute (TurkStat). Despite the monthly improvement, the index remained just below the 100-point threshold separating an optimistic outlook from a pessimistic one. The consumer confidence index increased 2.2% from the previous month to 89.8, while the services confidence index rose 1.4% to 112. Confidence in the construction sector climbed 0.6% to 83.5. Meanwhile, the real sector confidence index, covering the manufacturing industry, fell 0.8% to 101.2. The retail trade confidence index declined 1.6% to 111 in July. The index figures are seasonally adjusted, except for the consumer confidence index, which is not affected by seasonal factors.