Economic confidence index slips in April

ANKARA

The economic confidence index declined by 1 percent monthly in April after climbing 1 percent in March to fall below the 100-mark, data from the Turkish Statistics (TÜİK) have shown.

Any figure above the 100 mark points to optimism regarding the general economic situation.

The gauge of economic confidence fell to 99 in April.

Consumer confidence, which remained almost flat in March, rose by 1.4 percent in April month-on-month to 80.5, the latest data from the statistics authority showed on April 29. This marked the highest level since June last year when the consumer confidence index was 85.

The sub-index measuring the confidence in the real sector was unchanged on a monthly basis in April after rising 1.5 percent in Mach, which followed declines in the index in the previous four consecutive months.

In the services sector, the confidence index plunged 2.8 percent month-on-month, which compared unfavorably with a 1.5 percent increase in March, data from TÜİK showed.

The deterioration in business sentiment in the retail industry stopped after four months. The real sector confidence index advanced 1.9 percent in April from March.

In construction, which is one of the largest sectors in the Turkish economy, the confidence index was unchanged after plunging 3.6 percent month-on-month in March.