The Economic Confidence Index rose by 1.3% from 98.1 to 99.3 in January, month-over-month, according to the Turkish Statistical Institute (TurkStat).
The hike stemmed from the increase in the consumer, real sector, and construction indices in this period.
“The figure indicates that the economic activity has made a moderate start to the new year,” Dr. Ali Orhan Yalcinkaya told daily EKONOMI.
The consumer confidence index was up by 4.6% to 79.1, and the confidence indices surged by 1.8% to 103.4 in the real sector and 0.6% to 93.2 in the construction industry.
Meanwhile, the confidence indices dropped by 1.7% to 118.1 in the services sector and 1.0% to 126.2 in the retail trade sector in the same period.
A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.
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