Turkish economic confidence falls 1% in October


ISTANBUL – Turkey’s economic confidence index dropped 1.0% month-on-month in October to 101.4 points, data from the Turkish Statistical Institute showed on Wednesday.

The index, which points to an optimistic outlook when above 100 and pessimistic when below, hit a record low last year before recovering as coronavirus measures were eased in the summer.

The index climbed above 100 points in July for the first time since May 2018. Data last week showed consumer confidence dropped 3.6% to 76.8% in October, the lowest level since 2009.


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