Economic Confidence in Turkey Increased by 4.4% in August

Data from the Turkish Statistical Institute showed that the country’s economic confidence index rose 4.4% on a monthly basis in August to 85.9 points, recording a recovery for the fourth month in a row from low levels resulting from measures to combat the Coronavirus.

Economic activity fell sharply in March and April, when the index reached a low of 51.3 points, as Ankara implemented measures to slow the spread of the virus. The measures were gradually relaxed in May and most lifted in June.

The index, which indicates optimistic expectations when it is above 100 and pessimism when it is below this level, last time settled above the level of 100 points in March 2018.