Turkey’s Economic Confidence Increases 3.1% Month-on-Month in September 2020

Data from the Turkish Statistical Institute (TurkStat) showed an increase in Turkey’s economic confidence in September 2020, with the index reaching 88.5 from 85.9 in August 2020, up 3.1% month-on-month (MoM).

The MoM increase in September 2020 was fueled by improvements in consumer confidence, services and real sector indices. Consumer confidence and services sub-indices grew 3.2% and 6.4% MoM, respectively, whilst the real sector confidence index increased only slightly in comparison, by 0.5% over the same period.

Economic activity in Turkey experienced a steep decline in March and April 2020, due to COVID-19-mitigation measures imposed by the Government of Turkey. These me...