Economic confidence index edges up in October: TÜİK

ANKARA

Türkiye's economic confidence improved by 0.2 percentage points to 98.2 in October on a monthly basis, according to official figures released on Oct. 30.

That followed the 0.1 percent month-on-month increase recorded in September.

Three sub-indexes posted declines, while two sub-indexes increased, the Turkish Statistical Institute (TÜİK) reported.

The retail trade confidence index increased 3.7 percent on a monthly basis, accelerating from the 0.4 percent rise in the previous month, and the real sector confidence index rose 1.2 percent in October, after edging up 0.2 percent.

On the other hand, the construction confidence index decreased 5.3 percent in October, comparing unreadably with the 3.6 percent increase in September as services confidence and consumer confidence indexes both fell 0.3 percent. Consumer confidence fell 0.4 percent monthly in September.

The economic confidence index, a key indicator of the overall economic situation, hovers between 0 and 200.

A reading above 100 indicates optimism about the overall economic outlook, while a value below 100 reflects a more pessimistic assessment.