Latest Economic Data for October 2020 Shows Signs of Recovery in Turkey

Data from the Turkish Statistical Institute revealed that Turkey’s services confidence index witnessed its highest increase in October 2020, up 6.4% over the previous month to 79.7 points. This performance was fuelled by improvements in demand turnover and the overall business situation over the past three months, along with an improvement in the demand turnover expectation over the next three months.

Turkey’s retail trade sector index also grew by 1.7% month-on-month (MoM) to reach 95 points in October 2020 led by an increase in business activity and sales over the past three months, with positive expectations for the coming three months.

A survey by the Central Bank...