ANKARA: Economic confidence in Trkiye reached its highest point in eight months during December, as indicated by official data released on Monday. The Turkish Statistical Institute (TurkStat) reported that the economic confidence index rose by 1.8% from the previous month, reaching a level of 98.8.

According to Anadolu Agency, this increase marked a significant turnaround from the 0.9% decline observed in November. The data revealed that all sub-indexes experienced improvements in December, with the exception of the real sector, specifically the manufacturing industry, which saw a decrease of 0.7% to a level of 102.7.

The services confidence index showed a 2.4% increase, reaching 113.6. Meanwhile, both the consumer and construction confidence indexes rose by 1.9%, achieving levels of 81.3 and 89.4, respectively. Additionally, the retail trade confidence index experienced a growth of 1.2%, reaching 113.0 in December.

A confidence index value above 100 reflects optimism regarding the overall economic outlook, whereas a value below 100 indicates a more pessimistic perspective. The recent data suggests a shift in economic sentiment within Trkiye as the year concludes.