Economic confidence index shows slight decline in November

Türkiye’s economic confidence index (ECI) for November stood at 97.1, showing a slight decrease of 0.9% from October’s figure of 98, according to data from the Turkish Statistical Institute (TurkStat).

Economic confidence index decreases in November

The ECI decreased to 97.1 in November, marking a 0.9% decline from the previous month. This decrease highlights a minor dip in the overall economic sentiment.

The index gauges the public’s confidence in the economy.

Breakdown of sector-specific confidence indices

• Consumer confidence: The consumer confidence index fell by 1%, dropping to 79.8 in November from 80.5 in October.
• Real sector (manufacturing industry) confidence: In contrast, the real sector confidence index increased by 1.2%, rising to 103.4 from 102.2 in October.
• Services confidence: The services sector saw a significant decline, with its confidence index falling by 2.9%, reaching 111.
• Retail trade confidence: The retail trade sector experienced a modest gain, with its confidence index rising by 0.9% to 111.7.
• Construction confidence: The construction sector also reported a positive shift, with its confidence index rising by 1.7% to 87.8.