Turkey’s Economic Confidence Index Rises

Turkey’s Economic Confidence Index Rises Turkey’s economic confidence index rises. With the new results, confidence in the economy has increased for 6 months in a row. Turkish Statistical Institute (TURKSTAT) has announced its economic confidence index for the month of October. According to the data announced, the index increased by 4.8 percent in October compared to September and reached the level of 92.8. The rise in the economic confidence index was a result of the increases in the real sector (manufacturing industry), service, retail trade and construction sector confidence indices. Real sector confidence index increased by 3.8 percent in October compared to the previous month and became 109.7. The service sector confidence index increased by 6.4 percent and the retail trade confidence index increased by 1.7 percent to 95.0, and the construction sector confidence index increased by 0.6 percent to 83.8. Consumer confidence index decreased by 0.1 percent in October and reached the value of 81.9. Bahçeşehir University Lecturer Dr. İsmet Demirkol spoke to AA correspondent on the issue. Reminding that the index value was 92.8 in October, Demirkol stated that this was the highest value seen since March. Demirkol stated that the increase in the index is the result of the credit expansion, which occurred as a result of the CBRT's continuation of the decrease in interest rates until August, the accumulated stocks in the manufacturing side to become production and transferred to the export side. “We need to look at export orders in the upcoming period. Especially, if there is no recession in the Eurozone, we can see the continuation of the increase, albeit moderate, in the economic confidence index in November and December.” Demirkol also said, Turkey's outbreak management is well, if the exports and production-oriented growth will continue the data can be better in the future.