ECONOMIC CONFIDENCE HITS A 7̞MONTH LOW

The Economic Confidence Index, which has shown a downward trend since September, dropped by 1.8% from 99.3 points to 97.6 points in December, compared to the previous month, according to the Turkish Statistical Institute (TurkStat). This was the index’s lowest level since May. The drop in the economic confidence index stemmed from a decrease in the consumer, real sector (manufacturing industry), services, retail trade, and construction confidence indices. The consumer confidence index dropped by 3.1% to 68.9 points, the real sector confidence index declined by 1.7% to 110.1 points, while the services sector confidence index fell by 0.5% to 118.8 points in December, compared to the previous month. Confidence indices decreased by 0.4% to 121.5 points in the retail trade sector and by 3.9% to 90.0 points in the construction industry in the same period.