Despite devastating effects of the novel coronavirus on global economies, the Turkish economy has managed to signal a quick recovery and a better outlook in the second half of 2020. The latest examples were the sectoral confidence indices in August.
According to the Turkish Statistical Institute (TurkStat) data, Turkey’s seasonally adjusted services confidence index rose by 5.7 percent, reaching 70.5 in August from 66.7 in July. TurkStat also revealed that retail trade confidence index increased to 94.9 in August.
In addition, Central Bank of Turkey unveiled that capacity utilization rate of manufacturing industry jumped from 70.7 percent in July to 73.3 percent in August. The Bank also said real sector confidence index posted an upward trend, increasing by 5.5 pts to reach 106.2 in the same period.