29.12.2020
Economic Confidence Index, December 2020
Economic confidence index which was 89.5 in November decreased by 3.5% in December to 86.4. This decrease in economic confidence index stemmed from the decreases in services, retail trade and construction confidence indices.
Services confidence index decreased by 9.2% and became 70.4, retail trade confidence index decreased by 7.8% and became 87.6, construction confidence index decreased by 7.2% and became 73.3 in December compared to the previous month. On the other hand, consumer confidence index remained unchanged at 80.1, real sector (manufacturing industry) confidence index increased by 2.8% and became 110.4.
Economic confidence index, December 2020
Economic confidence index, sectoral indices and the rate of changes, December 2020
The next release on this subject will be on January 28, 2021.
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EXPLANATIONS
Economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations and tendencies about general economic situation. The index is combined by means of a weighted aggregation of sub-indices of seasonally adjusted consumer confidence, real sector, services, retail trade and construction confidence indices.
In the calculation of economic confidence index, each sectoral weights are not directly applied to the five confidence indices themselves but to their normalised individual sub-indices series as equally-distributed in each sector. Within this scope, totally 20 sub-indices of confidence indices for consumer, real sector, services, retail trade and construction are used in the calculation.
Sub-indices used in the calculation of economic confidence index are calculated with data collected in the first two weeks of each month.
It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it indicates a pessimistic outlook when it is below 100.
Source: TurkStat
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