Istanbul, Aug 28 () - The economic confidence index fell by 1.9 percent to 84.28 in August against the previous month, in result of decreases in all confidence indices that compose the index.
Economic confidence index indicates an optimistic outlook for the general economic situation when the rate is above 100, and a pessimistic outlook, on the contrary, when it shows below 100.
According to data released by Turkstat, the fall stemmed from decreases in all confidence indices, which compose the index. The economic confidence index has seen a value of 85.87 in July.Means of weighted aggregation of normalized sub-indices of consumer confidence, along with seasonally adjusted real sector (manufacturing industry), services, retail trade and construction confidence indices compose the index.
Turkstat’s data also shows, consumer confidence index dropped by 3.6 percent to 62.35 in August, while retail trade sector confidence index dropped by 2.6 percent to 101.86.Services and construction confidence indices, on the other hand, fell by 0.7 percent to 100.65 and 82.10, and real sector confidence index dropped by 0.1 percent 103, comparing to the previous month .
Economic confidence index is defined a composite index, which encapsulates evaluations of consumers and producers, as well as expectations and tendencies about the general economic situation.