Economic Confidence Index Increased in January

Economic confidence index increased in January. The index reached the value of 96.2.

Turkish Statistical Institute (TURKSTAT) has announced its economic sentiment index data for January. According to the data announced, while the economic confidence index was 94.7 in December 2020, it increased by 1.6 percent in January 2021 and reached 96.2. The reason for the increase in the economic confidence index was the increases in consumer and service sector confidence indices. Consumer confidence index increased by 4.0 percent to 83.3 in January 2021 compared to the previous month, and service sector confidence index reached 101.9 with an increase of 2.9 percent. While the real sector confidence index decreased by 1.3 percent to 109.0, the retail trade confidence index decreased by 0.1 percent to 108.5, and the construction sector confidence index decreased by 5.2 percent to 84.2. Economic confidence index data declined in December. The economic confidence index, which was 89.5 in November, decreased by 3.5 percent in December and declined to 86.4. The said decline in the economic confidence index stemmed from the decreases in service, retail trade and construction sector confidence indices. In addition, the consumer confidence index remained stable at the same level and realized at the level of 80.1. The real sector confidence index, on the other hand, increased by 2.8 percent and recorded as 110.4. An economic confidence index above 100 indicates optimism about the general economic situation, while a lower than 100 indicates pessimism about the general economic situation.         You may also want to read this: Economic Confidence Index Data Announced