Turkey’s economic confidence index stood at 51.3 in April, according to the country’s statistical authority on Wednesday.
The April figure decreased from 91.8 last month or by 44.1%, amid lockdown measures to stem the spread of coronavirus, the Turkish Statistical Institute (TurkStat) data showed.
OPTIMISTIC LOOKOUT
The month-on-month decrease was driven by deteriorations in consumer, real sector, services, retail trade and construction confidence indices. The services confidence index fell the most by 50.1% compared to last month.
Construction and real sector confidence indexes followed it with 42.2% and 36.8% drops respectively. Subindexes on retail trade and consumer confidence went down 26% and 5.8%, respectively.
TurkStat indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it shows a pessimistic outlook with an index below 100.