Türkiye’s economic confidence up in October

ANKARA

Türkiye’s economic confidence index posted an increase in October, the country’s statistical authority announced on Thursday.

The figure was up 3% month-on-month to 97.1 in October, from 94.3 in September, a Turkish Statistical Institute (TurkStat) statement said.

Almost all sub-indices saw gains in the month.

The consumer confidence index rose 5.3% from the previous month to 76.2 in October, while the retail trade index climbed 3% to 119.4.

The sub-indices for the real sector and services also increased 1.8% and 0.9% to 102.0 and 119.3, respectively.

The construction confidence index gained 2.8% to reach 90.5.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.