Turkey’s economic confidence index rises in November

Turkey’s economic sentiment index rose in November from the previous month, according to Turkish Statistical Institute. The index was up 7.4 percent month-on-month, rising to 86.55 in November from 80.56 in October. The rise in the economic confidence index was driven by the rises in real sector and services sentiment indices.

Turkey’s consumer confidence index dropped 6.9 percent to 68.93 from 74.04 in October. On the other hand, retail sector confidence and services confidence index rose 3.7 percent and 2.4 percent in November to 107.60 and 96.78, respectively.

Meanwhile, the retail trade sentiment indicator fell 0.2 percent in November to 96.03 from 96.33 in October. A drop in sentiment indicator was also recorded in the construction sector, which declined 6.9 percent from 81.32 in October to 75.75 in November.