Turkey's economic confidence index up in December

ANADOLU AGENCY
ANKARA
Published 28.12.2018 10:55
Updated 28.12.2018 10:57
People walk in front of a gold shop at the historic Grand Bazaar in Istanbul, Nov. 27, 2017. (EPA Photo)
People walk in front of a gold shop at the historic Grand Bazaar in Istanbul, Nov. 27, 2017. (EPA Photo)

The economic confidence index in Turkey was higher month-on-month in December, official data revealed Friday.

The consumer confidence index, which stood at 73.7 in November, went up 2 percent to 75.2 this month, the Turkish Statistical Institute (TurkStat) said in a statement.

This month-on-month increase was driven by improvements in the retail trade, services and real sector confidence indices.

Retail trade confidence index registered a rise of 6.3 percent. Services and real sector confidence indices followed it with 2.2 percent and 0.9 percent advances, respectively.

The sub-index tracking consumer confidence declined by 2.3 percent on a monthly basis to total 58.2 in December.

The construction confidence index dropped by 2.1 percent during the same period.

The economic confidence index is seen as a significant reading of the economic course as it is a composite index that aggregates sub-indices of consumer confidence, real sector services, retail trade and construction confidence indices, reflecting an overall sentiment of health of the economy.

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