Turkish economic confidence hits 17-month high
The figure hit 93.8 this month, while it was 95.1 in July last year, the Turkish Statistical Institute (TÜİK) data showed.
Confidence in Turkey's economy climbed 2.6% month-on-month in December, TÜİK said.
The rise was driven by improvements in the construction, real sector, services, and retail trade confidence indices.
The sub-index for construction showed the best performance with surging 7.9% on a monthly basis.
It was followed by the real sector and services confidence indices with 2.6% and 2%, respectively.
Retail trade confidence index also rose 1.4% during the same period.
Consumer confidence index was the sole one that saw a deterioration this month, slipping 1.9% from last month.
"The economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations, and tendencies about the general economic situation," said the TÜİK statement.
The institute underlined that a total of 20 sub-indices are used in the calculation, with data collected in the first two weeks of each month.
A value above 100 shows an optimistic outlook for the general economic situation, while a value below 100, a pessimistic one.