Economic confidence index realized as 101.4
Economic confidence index decreased by 1.5% compared to previous month decreasing from 103 to 101.4 in October. This decrease in economic confidence index stemmed from the decreases in consumer, services and retail trade confidence indices.
Consumer, services and retail trade confidence indices decreased to 67.3, 101.1 and 104 in October, respectively. On the other hand, real sector and construction confidence indices increased to 112.2 and 84.2 respectively.
Economic confidence index, October 2017
Economic confidence index, sectoral indices and the rate of changes,
The next release on this subject will be on November 28, 2017.
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 consumer confidence, seasonally adjusted real sector (manufacturing industry), 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.