The İTO surveyed the managers of 1,000 firms. The results were announced by Murat Yalçıntaş, the head of the chamber, at a press conference yesterday. According to the data, İstanbul’s market tendency and expectation index totaled 96.48 while the market confidence index amounted to 90.19. The index, ranging from 0 to 200, is indicative of an optimistic outlook when above 100 and a pessimistic outlook when below 100. When the index equals 100, it refers to neither an optimistic nor a pessimistic outlook.
According to the data shared by Yalçıntaş, the market confidence index stood at 100.44 in 2006, suggesting an optimistic outlook, while fell into pessimism with the global financial crisis in October 2008, when it reached the lowest level, totaling 69.56. The market tendency and expectation index also hit a low this month, dropping to 70.89.
Current figures are close to 2006 levels, Yalçıntaş said, but pointed out that the figures are still below 100, indicating that the firms are “cautiously optimistic” about the economic outlook. He predicted that the index will climb over 100 by May and continue its upward movement towards 200 in the following months, on the condition that the economy is supported with new packages.
