Retail

Economic confidence rises in Turkiye amid mixed sectoral performance

29 Dec '23

1 min read

Pic: saiko3p - stock.adobe.com

Insights

In December 2023, Turkiye's economic confidence index modestly increased to 96.4, reflecting improved consumer sentiment, with the consumer confidence index rising to 77.4.
Conversely, the manufacturing industry saw a slight dip in confidence, while retail trade confidence significantly increased, highlighting a mixed yet overall positive economic outlook.

Turkiye's economic confidence index saw a slight uplift in December 2023, inching up from 95.3 in November to 96.4, marking a 1.1 per cent increase, as per the Turkish Statistical Institute Turkstat.

The consumer confidence index rose by 2.6 per cent to 77.4, indicating an improvement in consumer sentiment.

However, the real sector (manufacturing industry) confidence index experienced a slight decrease of 0.5 per cent, settling at 103.4. Retail trade, another critical indicator of economic health, showed a notable increase in confidence, with its index surging by 4.5 per cent to 116.8, Turkstat said in a press release.

Economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations, and tendencies about general economic situation.

Fibre2Fashion News Desk (KD)

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