Confidence in Turkish economy surges ahead of 2025: TurkStat

Türkiye’s economic confidence index surged by 1.8% in December, the Turkish Statistical Institute (TurkStat) reported on Monday.

According to the TurkStat report, the economic confidence index rose to 98.8 in December from November’s 97.1 points.

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Other confidence indicators are recorded as follows:

• The consumer confidence index increased by 1.9% to 81.3.
• The real sector (manufacturing industry) confidence index decreased by 0.7% to 102.7, the services confidence index increased by 2.4% to 113.6,
• The retail trade confidence index increased by 1.2% to 113.0,
• The construction confidence index increased by 1.9% to 89.4

As the disinflation program is still ongoing, Türkiye’s annual inflation in November was indicated as 47.09%, sustaining the disinflation trend since June 2024.

Fostered by improving Outlook, the Central Bank of the Republic of Türkiye (CBRT) decided to make a 250 basis-point cut on interest rates, dragging it to 47.5% on Dec. 26.

December 30, 2024 12:02 PM GMT+03:00