By G9ija

Confidence among Turkish manufacturers rose to the highest level since May 2014 after the government eased a lockdown on the population and cases of COVID-19 dropped sharply from record levels.

The central bank said on Thursday that its monthly confidence index increased to 113 in June from 110.3 in May. It had stood at 92.6 in June last year. Any reading above 100 reflects an optimistic outlook for economic activity.

The improvement was led by expectations for the volume of output and export orders over the next three months, the data showed.

The seasonally adjusted industrial confidence index climbed to 109.8 this month from 107.1 in May. That was the highest level since December.

The results of the survey reflect the assessment of managers about the recent past, current situation and expectations for the future course of business conditions, according to the central bank.

The capacity utilisation of manufacturers rose to 76.6 percent in June from 75.3 percent the previous month, the central bank said in a separate survey. That was the highest level since December 2019.

Confidence in the retail, services and construction industries also rose this month, the Turkish Statistical Institute said.