Turkey: Economic sentiment hits highest reading since March in August
Latest reading: Economic sentiment came in at 98.1 in August, up from July’s 96.5. August’s result marked the strongest sentiment since March. However, 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, services and retail sectors. Additionally, consumer confidence improved in August. That said, sentiment in the construction sentiment worsened.
Considering indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index decreased in August.