Turkiye’s economic confidence rises in January 2024

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Turkiye’s economic confidence index saw an increase in January 2024, rising by 3.1 per cent to 99.4, up from 96.4 in December 2023, according to the data by the Turkish Statistical Institute (TurkStat). A key contributor to this rise is the consumer confidence index, which showed a significant improvement of 3.9 per cent, reaching 80.4.

However, not all sectors mirrored this upward trend. The manufacturing industry’s confidence index experienced a slight decrease of 0.5 per cent, bringing it down to 102.9. Similarly, the retail trade confidence index also saw a decline, dropping by 1 per cent to 115.6.

Turkiye’s economic confidence index rose 3.1 per cent to 99.4 in January 2024, from 96.4 in December 2023, as per TurkStat.
The country’s consumer confidence improved by 3.9 per cent to 80.4.
However, manufacturing industry confidence dipped 0.5 per cent to 102.9, and retail trade confidence fell 1 per cent to 115.6, showing mixed sectoral trends.

It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it indicates a pessimistic outlook when it is below 100, according to TurkStat.

Fibre2Fashion News Desk (DP)




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