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Economic confidence in Turkiye surges to 99.4 in January 2024

02 Feb '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • In January 2024, Turkiye's Economic Confidence Index soared to 99.4, a notable increase from the previous month's 96.4, indicating a robust 3.1 per cent growth in economic confidence, according to the Turkish Statistical Institute.
  • Consumer confidence rose by 3.9 per cent to 80.4, while the real sector confidence index fell slightly by 0.5 per cent to 102.9.
The Economic Confidence Index in Turkiye witnessed a remarkable upswing in January 2024, reaching 99.4, marking a significant increase from the previous month's 96.4. This surge reflects a robust 3.1 per cent rise in economic confidence, highlighting Turkiye's positive economic outlook, as per the Turkish Statistical Institute (Turkstat).

Breaking it down further, the consumer confidence index also saw a substantial boost, rising by 3.9 per cent to attain a value of 80.4. In contrast, the real sector (manufacturing industry) confidence index experienced a modest decline of 0.5 per cent, settling at 102.9.

Meanwhile, the retail trade confidence index decreased by 1.0 per cent, reaching a value of 115.6 in January when compared to the previous month, Turkstat said in a press release.

ALCHEMPro News Desk (KD)
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