Türkiye’s economic confidence bounced back this month to register its first increase in six months, official data showed on Friday.
The economic confidence index rose by 2% in September to 95, according to the Turkish Statistical Institute (TurkStat) data.
The gauge was consistently declining since March. In August, the index stood at 93.1.
In September, compared to the previous month, the consumer confidence index rose by 2.4%, reaching 78.2, the TurkStat data showed.
The real sector (manufacturing industry) confidence index increased by 1.2% to 99.2. The services sector confidence index went up by 0.6% to 112.6.
The retail trade sector confidence index rose by 2.5% to 110.6, while the construction sector confidence index saw a slight decline of 0.2%, falling to 87.8.
The economic confidence index primarily reflects trends in the consumer, seasonally adjusted real sector, and services sectors. It also takes into account the trends in the retail trade and construction sectors.
An index value greater than 100 indicates optimism about the general economic situation, while a value below 100 reflects pessimism.
