According to a statement from the Turkish Statistical Institute (TUIK), Turkey’s construction confidence index experienced a 3.5pct month-on-month decrease, reaching 88.9 points in June 2023. This decline indicates a weakening sentiment within the construction industry.
In addition, the economic confidence index, which stood at 103.7 in May, also saw a decrease of 2.5pct in June, settling at 101.1 points.
The consumer confidence index registered a significant decline of 6.5pct. However, there were marginal improvements in other sectors, with the real sector (manufacturing industry) confidence index increasing by 0.6pct, services confidence index rising by 0.6pct, and retail trade confidence index improving by 0.9pct, as reported by TUIK.
These confidence indexes, calculated from monthly surveys, are evaluated on a scale of 0-200. A value above 100 indicates an optimistic outlook, while a value below 100 suggests a pessimistic outlook.
The latest data reflects a mixed sentiment in various sectors, with construction confidence facing notable challenges, signaling the need for further analysis of the industry’s performance and outlook.
