Economic confidence index at 91.8 in March

ANKARA - Anadolu Agency

Turkey's economic confidence index reached 91.8 in March, the Turkish Statistical Institute (TÜİK) announced on March 27.

The figure was down 5.9 percent from a month earlier, TÜİK said in a statement, attributing the decrease to a fall in real sector, services and retail trade confidence indices.

According to the report, the sub-index for construction showed an improvement, rising 3.7 percent this month.

The consumer confidence index rose 1.7 percent month-on-month in March.

The confidence in real sector deteriorated the most, going down 7.6 percent during the same period.

The services and retail trade confidence indexes declined 6 percent and 1.2 percent, respectively from a month earlier in March.

The economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations and tendencies about general economic situation, TÜİK said.

It 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, it added.