Turkey’s Economic Confidence Index Rose 4.8% in October

Turkish Statistics Institute data revealed on Wednesday that the Turkish economic confidence index rose 4.8% on a monthly basis in October to 92.8 points, recording a sixth consecutive month after it retreated due to measures to combat the outbreak of the Coronavirus.

Economic activity fell sharply in March and April, as the index fell to 51.3 points, as Ankara implemented measures to curb the spread of the virus. Measures began to gradually relax in May and most were lifted in June.

The last time the index exceeded the 100-point level, which separates positive and negative expectations, was in March 2018.