Turkey: Economic sentiment rises in October
Economic sentiment came in at 94.5 in October, up from September’s 92.6. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected healthier sentiment in the industrial sector and improved sentiment in the construction sector. Meanwhile, confidence in the services sector strengthened in October, whereas sentiment in the retail sector cooled in the surveyed month. Finally, consumer confidence rose in October.
Considering indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index decreased in October.