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Turkish economic confidence index improves by 4.5 percent in October

People walk in a long corridor lined by Turkish flags in a historic bazaar in the central Sultanahmet district of Istanbul on August 11, 2018. / AFP PHOTO / Yasin AKGUL

Turkey’s economic confidence index saw a 4.5 percent increase in October, reaching 89.8 percent, according to the Turkish Statistical Institute (TurkStat), the Diken news website reported on Wednesday.

The improvement is the result of recoveries seen in a number of sub-indices related to consumer confidence, including those for the manufacturing industry, the service sector and construction.

Yet the index remained indicative of a negative overall outlook as it has not surpassed the 100 threshold.

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

An optimistic outlook on the economy is indicated when the index scores above 100, whereas a pessimistic outlook is reflected with an index below 100.

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