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Turkey Economic Confidence Falls Slightly


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Turkey’s economic confidence weakened slightly in November, after rising in the previous month, survey results from the Turkish Statistical Institute showed on Tuesday.

The economic sentiment index dropped to 96.9 in November from 97.1 in October.

Among components, the confidence index for the manufacturing industry fell to 101.3 in November from 12.0 in October, and the measure for services decreased to 118.1 from 119.3.

At the same time, the sentiment index for retail trade strengthened to 121.9, and that in construction rose to 91.6.

Data also showed that the consumer confidence index improved to a 13-month high of 76.6 in November from 76.2 in the previous month.

Consumers’ expectations regarding the general economic situation of the country in the next twelve months improved in November, but their own financial situation in the year ahead worsened somewhat.

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