Türkiye’s economic confidence index climbed by 1.7% in August to 97.9, up from 96.3 in July, reflecting growing optimism across multiple sectors, according to a statement released by the Turkish Statistical Institute (TurkStat) on Thursday.

The index, a key indicator of overall economic sentiment, showed gains in consumer confidence, manufacturing, services, and retail trade, though construction saw a notable decline.

The consumer confidence index rose by 0.9% to 84.3, indicating a modest improvement in household sentiment. The real sector (manufacturing industry) confidence index posted a 1.7% increase, reaching 100.6, signaling robust optimism among manufacturers. The services sector confidence index advanced by 1.1% to 111.1, while the retail trade confidence index saw a 0.8% uptick, reaching 108.8. However, the construction confidence index bucked the trend, dropping by 4.0% to 85.3, reflecting ongoing challenges in the sector.

The August data suggests a cautiously positive outlook for Türkiye’s economy, driven by gains in key industries, though the construction sector’s decline highlights persistent structural issues. TurkStat’s monthly report provides critical insights for policymakers and investors monitoring Türkiye’s economic recovery amid global and domestic pressures. (ILKHA)