Economic confidence in Türkiye hits eight-month high

Economic confidence in Türkiye reached an eight-month high in December, according to official data released on Monday.

The Turkish Statistical Institute (TurkStat) reported that the economic confidence index rose by 1.8 percent compared to November, reaching 98.8.

This increase marked a reversal of November's 0.9% month-on-month decline.

All sub-indexes improved in December, except for the manufacturing sector which fell by 0.7 percent to 102.7.

The services confidence index rose 2.4 percent to 113.6, while the consumer and construction confidence indexes both increased by 1.9 percent, reaching 81.3 and 89.4, respectively.

The retail trade confidence index grew by 1.2 percent, reaching 113.0 in December.

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