Economic confidence index increased by 1.7% in November to 91.3

Economic confidence index which was 89.8 in October increased by 1.7% in November to 91.3. This increase in economic confidence index stemmed from the increases in consumer, real sector (manufacturing industry) and services confidence indices.

Consumer, real sector and services confidence indices increased to 59.9, 105.9 and 91.3 respectively in November. On the other hand, retail trade and construction confidence indices decreased to 101.2 and 63.9 respectively in November.

Economic confidence index, November 2019

Economic confidence index, sectoral indices and the rate of changes,
November 2019

The next release on this subject will be on December 30, 2019.

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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.