Turkey's economic confidence up 1.6% in January

The confidence in the Turkish economy rose month-on-month in January, said the country’s statistical authority on Thursday.

The economic confidence index reached 96.2 this month, up 1.6% from 94.7 in December, TurkStat said.

The monthly rise was driven by increases in consumer and services confidence indices.

The consumer confidence index posted the largest increase with 4% in the same period. The reading for retail trade and construction slipped by 0.1% and 5.2%, respectively.

This month, the services confidence index was up by 2.9% compared to last month, while the real sector posted a 1.3% decrease.