Turkey’s economic confidence falls for 3rd month in row

Turkey’s economic confidence index decreased for the third consecutive month in April, the country’s statistical authority announced on Thursday.

The figure fell to 94.7 in April, a decline of 1.1% from the previous month, the Turkish Statistical Institute (TurkStat) said in a statement.

The fall in the index was a result of declines in consumer and real sector confidence indices, it said.

Consumer confidence index decreased by 7.3% to 67.3 in April.

Services confidence index, on the other hand, increased by 3% to 114.6.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.