Türkiye’s economic confidence index fell by 3.9% in October from the previous month to 97.3, the Turkish Statistical Institute (TurkStat) said on Friday.

The index stood at 101.3 in September, dropping below the 100-point threshold that separates optimism from pessimism about the economic outlook.

Consumer confidence recorded the sharpest decline among the main indicators, falling 7.7% to 84.8 in October.

The real sector confidence index, which measures sentiment in the manufacturing industry, decreased by 1.4% to 101.1, while the services confidence index fell 2.4% to 109.2.

In contrast, confidence improved in two sectors. The retail trade confidence index rose 1.1% to 112.5, while the construction confidence index edged up 0.4% to 83.3.

The economic confidence index reflects assessments and expectations across several sectors of the economy, including consumers, manufacturers, service providers, retailers and the construction industry.

A reading above 100 indicates an optimistic outlook, while a figure below 100 signals a pessimistic assessment of economic conditions. (ILKHA)