Economic Climate Index Drops in September Despite Stable Consumer Confidence
The latest economic climate index, released by the Foundation for Economic & Industrial Research, shows a dip in September. Despite this, consumer confidence remains stable with limited pessimism about household finances.
The index, which measures economic sentiment, dropped to 106.2 points from 108.9 points in the previous period. This decline is largely due to weakening expectations in various business sectors and sub-sectors, excluding retail trade. The director of the foundation, whose name was not specified in available sources, attributed the fall to international trade uncertainties affecting industry export forecasts.
Breaking down the sectors, the construction index is expected to correct mainly in private projects. Meanwhile, the services sector has reached its lowest point in the last 12 months, indicating a significant slowdown.
Despite the overall decline in the economic climate index, consumer confidence has held steady, suggesting that consumers remain optimistic about their energy and cellular finances. As the index corrects in certain sectors, economists will be watching to see if these trends continue or if the economy can rebound in the coming months.
