TurkStat reports decline in Turkish economic confidence for June

The Turkish Statistical Institute (TurkStat) released economic confidence index data for June Thursday.

According to the data, the index decreased by 2.5% in June to 95.8 from 98.2 in May.

In June compared to the previous month:

• Consumer confidence index: decreased by 2.7% to 78.3
• Real sector (manufacturing industry) confidence index: decreased by 1.9% to 100.5
• Services sector confidence index: decreased by 1.5% to 115.4
• Retail trade sector confidence index: decreased by 2.6% to 108.8
• Construction sector confidence index: decreased by 0.5% to 87.9

ORC reveals pessimism over Turkish economic recovery

Additionally, ORC Research surveyed from June 10-14, 2024, involving 5,620 participants about the Turkish economy.

Participants were asked if they believed the Turkish economy would recover.

A significant 69.8% of respondents indicated they did not believe the economy would improve, while 20.6% were optimistic, and 9.6% did not express a clear opinion.