Economic confidence hits 7-month low

The economic confidence index declined by 1.8% from 99.3 to 97.6 in December, as compared to November, according to the Turkish Statistical Institute (TurkStat).

Thus, the index fell to its lowest level since May.

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

All sub-indices posted negative results in the month, with the construction confidence index registering the biggest drop of 3.9% to end at 90.

Consumer confidence slipped 3.1%, followed by real sector confidence (1.7%), services confidence (0.5%), and retail trade confidence (0.4%).

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