Turkish economic confidence rises in January, led by consumers and services

The consumer confidence index also increased by 3.9% to 80.4 1. However, the real sector (manufacturing industry) confidence index decreased by 0.5% to 102.9 1. The services confidence index increased by 4.0% to 116.8 1. The retail trade confidence index decreased by 1.0% to 115.6 1. Finally, the construction confidence index increased by 3.3% to 90.9 in January compared to the previous month 1.

This news is a positive sign for the Turkish economy, as the economic confidence index has been steadily increasing since December 2023. The rise in the consumer confidence index is also a good indication of the public’s faith in the economy. However, the decrease in the real sector confidence index is a cause for concern and should be monitored closely. (ILKHA)