Turkish economic confidence index rises 1.7 pct in November

Shoppers in an Istanbul market (File photo: AFP)

Turkey’s economic confidence index rose 1.7 percent month-on-month in November to 91.3 points, according to data released by the Turkish Statistical Institute on Thursday.

The economic confidence index contains consumer and producer evaluations and expectations of the general economic situation. The outlook is optimistic when the index is above 100 and pessimistic when its below that number – Turkey’s 91.3 placing it in the pessimistic category.

It last stood above 100 points in March 2018, according to the data.

Last year, Turkey’s economy slid into a recession for the first time in a decade. An escalating trade dispute with Washington has put pressure on the Turkish lira, which is down 10 percent from a year earlier.

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 09:56 - GMT 06:56
Top