Economic confidence in Türkiye improves in January

Economic morale in Türkiye improved in January compared to last month, with confidence noted to have climbed among service providers, consumers and constructors, according to official data released on Tuesday, Azernews reports, citing Anadolu Agency.

The index rose by 3.1% to 99.4 in January, the fastest monthly clip in the last nine months, following a 1.1% hike in December, the Turkish Statistical Institute (TurkStat) data showed.

The confidence index for services surged 4% from last month to 116.8. The reading for consumer morale jumped by 3.9% to 80.4 and for construction by 3.3% to 90.9.

On the other hand, sentiment deteriorated among retailers and manufacturers by 1% to 115.6 and 0.5% to 102.9, respectively, during the same period.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.