Türkiye's economic confidence ticks up in October

ISTANBUL

Türkiye's economic confidence improved by 0.2 percentage points to 98.2 in October on a monthly basis, according to official figures released on Thursday.

Three sub-indexes posted declines, while two sub-indexes increased, the Turkish Statistical Institute (TurkStat) reported.

The retail trade confidence index increased 3.7% on a monthly basis, and the real sector confidence index rose 1.2% in October.

On the other hand, the construction confidence index decreased 5.3% in October, and services confidence and consumer confidence indexes both fell 0.3%.

The economic confidence index, a key indicator of the overall economic situation, hovers between 0 and 200. A reading above 100 indicates optimism about the overall economic outlook, while a value below 100 reflects a more pessimistic assessment.