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Financial News: Turkey Economic Confidence At 8-Month High

Turkey Economic Confidence At 8-Month High

10/27/2022 - 05:59:00 (RTTNews)

(RTTNews) - Turkey's economic confidence strengthened in October to the highest level in eight months, after remaining stable in the previous month, survey results from the Turkish Statistical Institute showed on Thursday.

The economic sentiment index rose to 97.1 in October from 94.3 in September..

Moreover, this was the highest reading since February, when it was 98.2.

Among components, the confidence index for the manufacturing industry rose to 102.0 in October and the measure for services increased to 119.3.

The sentiment index for retail trade improved to 119.4, and that in construction rose to 90.5.

Data also showed that the consumer confidence index strengthened to a one-year high of 76.2 in October from 72.2 in the previous month.

Consumers' expectations regarding the general economic situation of the country in the next twelve months and their own future financial situation improved in October.

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