Economic morale in Türkiye improved in January compared to a month earlier, with confidence noted to have surged notably among service providers, consumers and constructors, according to official data released on Tuesday.
The index rose by 3.1% to 99.4 in January, the fastest monthly clip in the last nine months, following a 1.1% hike in December, the Turkish Statistical Institute (TurkStat) data showed.
The confidence index for services climbed 4% from last month to 116.8 while the reading for consumer morale jumped by 3.9% to 80.4 and for construction by 3.3% to 90.9.
On the other hand, during the same period, the sentiment deteriorated among retailers and manufacturers by 1% to 115.6 and 0.5% to 102.9, respectively.
The economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations and tendencies about the general economic situation.
A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.
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