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Turkish economic confidence improves in August

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Turkey’s economic confidence index rose to 87.1 points, a 7.9 percent increase over 80.7 in July, according to the Turkish Statistical Institute (TurkStat), the state-run Anadolu news agency reported on Wednesday.

The increase was driven by positive trends in sub-indices of consumer confidence: the real sector (manufacturing industry), the service sector, retail and construction, according to the report.

The index stood at 83.4 points in June after dropping to 77.5 points in May, the lowest score since a currency crisis last year.

Despite the improvement the index is indicative of a general negative outlook as it still falls below the 100-point threshold, which is the demarcation line between optimism and pessimism.

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