Turkey’s economic confidence index jumps 10% m/m in January

Turkey’s economic confidence index jumps 10% m/m in January
By bne IntelliNews January 31, 2018

Turkey’s economic confidence index jumped by 10% m/m to 104.9 points in January, the highest level registered since August, data from national statistics office TUIK showed on January 30.

The 100-mark separates optimism from pessimism.

The index value hit a five-year high last August but gradually declined across the four following months before January's gain.

All the sub-indices of the headline economic sentiment index were also up in the first month of 2018.

Business sentiment jumped by 5% m/m to 108.3 in January following declines posted over the previous three months.

Services confidence increased by 6% m/m after declining 3.5% m/m in December while retail confidence rose by 5.6% m/m following the slight 0.7% m/m rise recorded in December. Construction confidence increased by 6.7% m/m after declining 1% m/m in December.

Consumer sentiment in Turkey jumped by 11% m/m in January to 72.3. That went down as the highest level recorded since May last year, following declines posted over the previous five months in a row.