Economic confidence index of Turkey down in November

Economic confidence index of Turkey down in November

Going down for 2nd month in row, main reading falls below threshold level, official data shows

News Service AA

Turkey’s economic confidence index decreased 2% month-on-month in November, according to the country’s statistical authority on Monday.

Posting decline for the second month in a row, the main reading fell below the threshold level to 99.3 in November, the Turkish Statistical Institute (TurkStat) said.

A value above 100 indicates an optimistic outlook for the general economic situation, while a value below 100 points a pessimistic view.

This decrease in the index was driven by weaker consumer and services confidences.

The sub-index for consumer confidence dropped by 7.3% on a monthly basis to 71.1 in November, while services confidence index decreased by 0.7% to 119.4.

Construction confidence index reached 93.6 in November, up by 1.0% compared to the previous month.

This month, sub-indices for real sector (manufacturing industry) and retail trade confidences were both up 0.6% in the same period.


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