Turkey: Economic confidence dropped by 1.9 percent in August

Confidence in the Turkish economy weakened among consumers and businesses in August, according to official figures published on Friday.The economic confidence dropped by 1.9 percent in August, Turkish Statistical Institute, TurkStat, said.

Turkey: Economic confidence dropped by 1.9 percent in August

Confidence in the Turkish economy weakened among consumers and businesses in August, according to official figures published on Friday.

The economic confidence dropped by 1.9 percent in August, Turkish Statistical Institute, TurkStat, said.

The index which surveys consumers and businesses went down to 84.28 points in August from a revised 85.87 in July.

The consumer confidence index slipped to a six-year low, dropping 3.6 percent in August to 62.35.

Subindexes on retail trade sector confidence declined significantly in August, and services and construction confidence indices — decreasing by 0.7 percent compared to July — dropped to 100.65 and 82.10.

Economic confidence in the country has fallen sharply — just over 9 percent — since the beginning of the year, from the level of 93.2 points.

Nurullah KIRMACI / nurullahkirmaci@emlakcoulisse.com

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