Economic confidence in Turkey rises in December

Economic confidence in Turkey rises in December

ANKARA
Economic confidence in Turkey rises in December

The economic confidence index in Turkey was higher month-on-month in December, an official data revealed on Dec. 28.

December’s figure was up 2 percent to reach 75.2 compared to last month, the Turkish Statistical Institute (TÜİK) said in a statement.

This month-on-month increase was driven by improvements in the retail trade, services and real sector confidence indices.

Retail trade confidence index registered a rise of 6.3 percent. Services and real sector confidence indices followed it with 2.2 percent and 0.9 percent advances, respectively.

The sub-index tracking consumer confidence declined by 2.3 percent on a monthly basis to total 58.2 in December.

The construction confidence index dropped by 2.1 percent during the same period.

The economic confidence index is seen as a significant reading of the economic course as it is a composite index that aggregates sub-indices of consumer confidence, real sector services, retail trade and construction confidence indices, reflecting an overall sentiment of health of the economy.

economic confidence, Turkey, Economy