Economic confidence in Türkiye hits 8-month high

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

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

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

All sub-indexes saw improvements in December, except for the real sector-the manufacturing industry-which fell by 0.7% to 102.7.

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

The retail trade confidence index grew by 1.2%, 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.