Türkiye’s economic confidence down in November

ISTANBUL

Türkiye’s economic confidence index fell 1.3% to 96.5 in November on a monthly basis, data from the Turkish Statistical Institute (TurkState) showed on Wednesday.

In the month, consumer confidence improved 1.1% and construction confidence 2.2%, while the real sector, services, and retail sector confidence indexes dropped 1.3%, 2.4% and 1.9%, respectively.

The economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations, and tendencies about the general economic situation.

It indicates an optimistic outlook if it is above 100, or a pessimistic outlook if below 100.