Türkiye's economic confidence declines in October

Published by the Turkish Statistical Institute (TÜİK), the index combines confidence indicators from consumers, the real sector, services, retail trade, and construction. The decline reflects a deterioration in overall confidence in economic activity compared with the previous month.

According to TÜİK data, the economic confidence index fell by 3.9% to 97.3 in October, after reaching 101.3 in September, its highest level in nearly three years. During the same period, the consumer confidence index dropped 7.7% to 84.8, the real sector confidence index declined 1.4% to 101.1, and the services sector confidence index fell 2.4% to 109.2. In contrast, the retail trade confidence index increased 1.1% to 112.5, while the construction sector confidence index rose 0.4% to 83.3. The economic confidence index falling back below the 100-point threshold indicates that pessimism has once again become more prevalent in the overall economic outlook.