Turkey’s Economic Confidence Index Continues to Improve into July 2020: Turkish Statistical Institute 

Official data from the Turkish Statistical Institute (TURKSTAT) showed that Turkey’s Economic Confidence Index (ECI) inched upwards for the third month in a row, reaching 82.2 points in July 2020, up 11.8% month-on-month.

The ECI reached a low of 51.3 points as Turkey implemented restrictive measures to curb the impacts of the COVID-19 pandemic in March and April 2020. With restrictions gradually eased in May 2020 and mostly lifted in June 2020, the ECI started its recovery, reaching 73.5 points in June 2020.

The rise in the index for July 2020 was led by improvements in the services, real, construction and retail trade sectors. The services sector confidence index showed th...