Turkey's economic confidence index rose to 91.3 in November on a monthly basis, according to official data released on Thursday. The figure rose 1.7%
Turkey’s economic confidence index rose to 91.3 in November on a monthly basis, according to official data released on Thursday.
The figure rose 1.7% from 89.8 in October, the Turkish Statistical Authority (TurkStat) said.
Improvement in consumer, real sector and services sector confidence indices led to the rise in economic confidence, it added.
“Consumer, real sector and services confidence indices increased to 59.9, 105.9 and 91.3 respectively in November,” TurkStat noted.
It also said retail trade and construction confidence indices dropped to 101.2 and 63.9 respectively in the month.
The economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations, and tendencies about the general economic situation, according to TurkStat.
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 outlook.
In 2018, the index saw its highest value in January at 105.2 points, as the lowest figure was recorded at 75.2 points in November.