Turkiye's economic confidence shows modest growth in October 2023

The consumer confidence index experienced a significant uptick, increasing by 4.4 per cent to reach 74.6, compared to 71.5 in the previous month. This comes after a 5.1 per cent surge in September. Notably, this particular index is not subject to seasonal adjustments, the Turkish Statistical Institute (TurkStat) said in a press release.

Meanwhile, the real sector confidence index, which pertains to the manufacturing industry, edged up slightly from 105.1 to 105.3. This minor change represents a 0.2 per cent increase in October, following a 0.5 per cent increment in September.

The retail trade confidence index revealed a contrary trend. It dropped by 3.3 per cent, settling at 113.9, after a 3.0 per cent hike in September. The index had stood at 117.7 prior to the decline.

All index values are seasonally adjusted with the exception of the consumer confidence index.

Fibre2Fashion News Desk (NB)