The Turkish Statistical Institute (TurkStat) on Thursday released data showing an uptick in the overall economic confidence index for January.

The index rose from 98.9 in December to 99.7, marking a 0.8% increase month-over-month.

Despite the general rise in economic confidence, consumer sentiment took a slight downturn. The consumer confidence index dipped by 0.4%, settling at 81.0 for January. Similarly, the real sector, specifically the manufacturing industry, saw a marginal decrease of 0.1% in confidence, with the index standing at 102.6.

On a more positive note, other sectors showed growth in confidence. The services sector confidence index increased by 2.5% to reach 116.5. Retail trade confidence also saw a rise, increasing by 1.4% to 114.5. Meanwhile, the construction sector's confidence index experienced a significant jump of 2.6%, coming in at 91.7 for the month.

These figures reflect the diverse dynamics at play within Türkiye's economy, suggesting varied consumer and business sentiments across different sectors as the new year begins. (ILKHA)