Confidence in Turkish economy rises

Economic morale in Türkiye improved in April compared to a month ago, according to data released on April 27.

The economic confidence index rose 3.5% month-on-month to top the 100 threshold level after 14 consecutive months of pessimism, Turkish Statistical Institute (TurkStat) data showed, according to Daily Sabah.

The index came in at 102.2 in April, its highest level since November 2021.

A value above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.

This significant rebound stemmed from a surge in consumer confidence, according to TurkStat.

The sub-index for consumer confidence jumped 9.2% to 87.5 in April.

The services and real sector confidence indices climbed 1.1% and 1%, respectively, compared to March.

On the other hand, confidence in the retail trade and construction sectors weakened by 1.3% and 0.1% respectively in April.