Economic confidence at a 2-year high

Published 27.11.2015 22:35

Confidence in the Turkish economy skyrocketed in November with a record-high increase in consumer indexes compared to the previous month, according to a report by the Turkish Statistical Institute (TurkStat). The Economic Confidence index, a composite index reflecting the evaluation and expectations of both consumers and producers about the general economic situation, increased 26.7 percent compared to the previous month, jumping to 104.99 in November from 82.87 in October, the report said. Thereby, the index has reached its highest level since December 2013. The increase is attributed to increases in the component indexes in the headline index, according to this report. The Real Sector Confidence index increased 6.4 percent to 110.30. The Retail Trade Confidence index improved by 5.9 percent, rising to 105.29. The Construction Confidence index climbed 5 percent, and the Services Confidence index rose 1.9 percent from last October. Meanwhile, on Nov. 20, the Consumer Confidence index increased by 22.9 percent to 77.15, according to reports from TurkStat.

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