Türkiye's economic confidence index up in August

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's economic confidence index rose 1.7% to 97.9 points in August from 96.3 in July, the Turkish Statistical Office (TurkStat) said on Thursday.

This marked a rebound from July's 0.4% monthly decline.

The real sector confidence index rose 1.7% and services confidence index rose 1.1% month-on-month in August.

The consumer confidence index also increased 0.9% and retail trade confidence index was up 0.8% in the month.

On the other hand, construction confidence index dropped 4% in August compared to July.

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.