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Financial News: Turkey Economic Confidence At 14-Month Low

Turkey Economic Confidence At 14-Month Low

07/28/2022 - 05:21:00 (RTTNews)

(RTTNews) - Turkey's economic confidence weakened to the lowest since May last year, survey results from the Turkish Statistical Institute showed on Thursday.

The economic sentiment index fell to 93.4 in July from 93.6 in June. The decline was driven by the deterioration in manufacturing, services and retail trade confidence indices.

The latest sentiment was the lowest since May last year, when the reading was 92.8.

The confidence index for the manufacturing industry fell to 102.5 in July and the measure for services declined to 117.8.

The sentiment index in retail trade weakened to 113.4, while that in construction rose to 85.0.

The consumer confidence index improved to 68.0 in July from 63.4 in the previous month.

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