Economic confidence in Turkish economy down in December

ANKARA

The confidence in the Turkish economy slipped month-on-month in December, according to Turkish Statistical Institute on Tuesday.

The economic confidence index reached 86.4 this month, down 3.5% from 89.5 previous month, TurkStat said.

The monthly fall was driven by deteriorations in services, retail trade and construction sub-indices.

Services confidence posted the largest decline by 9.2% in the same period. The reading for retail trade and construction slipped by 7.8% and 7.2%, respectively.

This December, the consumer confidence remained stable compared to last month while real sector was the sole sub-index in the positive zone, increasing 2.8%.