Nov 28 2017

Turkish economic confidence falls to lowest since March

Turkey’s economic confidence index fell for the third-straight month, dropping to 97.9 in November from 101.4 the previous month, showing consumers and businesses are now pessimistic about the economic situation.

It was the lowest reading since March. The retail sector led declines, dropping to 99.9 from 104. Construction fell to 82.4 from 84.2, the government-run statistics agency in Ankara said on Tuesday.

The only industry to produce a readout exceeding 100, which shows optimism about the future, was manufacturing, where economic confidence dropped to 109.8 from 112.2.

 

Economic confidence index, November 2017 (Source: TÜİK)
Economic confidence index, November 2017 (Source: TÜİK)