UPDATE - Turkey's economic confidence refreshes record in September

UPDATE WITH MORE DETAILS

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's economic confidence index hit the highest level since April 2018 by increasing 1.6% month-on-month to 102.4 in September, the country's statistical institute said on Wednesday.

The increase stemmed from rises in consumer, real sector, services and retail trade confidence indices, TurkStat data showed.

A value above 100 shows an optimistic outlook for the general economic situation, while a value below 100 points to a pessimistic one.

The economic confidence index was 103 in April 2018, according to the institute's data.
The sub-index for retail trade confidence saw the largest increase in the month by 4.8% reaching 115.6 versus August.

Consumer confidence index followed it with 1.8% to reach 79.7.

Services and real sector confidence indices were up by 1.5% and 1% to reach 117.8 and 113.3, respectively.

Meanwhile, the construction confidence was the only sub-index posting negative figure with 0.7% to stand at 91.8 in September.