Türkiye’s economic confidence rises above key threshold in August

Türkiye’s economic confidence index rose above the 100-point threshold in August, official data showed Friday.

The index increased 0.8% from the previous month to 100.6, up from 99.8 in July, according to the Turkish Statistical Institute (TurkStat).

A reading above 100 indicates optimism regarding the overall economic outlook, while a figure below the threshold signals pessimism.

The improvement was driven by higher confidence among consumers and manufacturers.

The consumer confidence index rose 1% month-on-month to 90.8, while the real sector confidence index for the manufacturing industry climbed 1.2% to 102.4.

Confidence weakened modestly across the services, retail trade and construction sectors.

The services confidence index edged down 0.1% to 111.9, while retail trade confidence fell 0.8% to 110.1.

The construction confidence index declined 0.4% to 83.1, remaining the weakest among the sectoral indicators.