Economic confidence improves in March

ANKARA

The economic confidence index increased by 1 percent monthly to touch the 100-mark in March, data from the Turkish Statistics (TÜİK) have shown.

Any figure above the 100-mark points to optimism regarding the general economic situation.

The gauge of economic confidence was down 0.4 percent month-on-month in February.

Consumer confidence, which declined 1.3 percent in February, remained almost flat, with the sub-index inching up from 79.3 to 79.4 last month.

The deterioration in morale in the real sector finally stopped after four months and reversed course. The real sector confidence index advanced 1.5 percent in March, after falling 0.9 percent in February, climbing to 103.5.

The month-on-month increase in the services sector confidence index slowed again in March, data from TÜİK showed. The pace of monthly growth in the sentiment index for services eased from 4 percent in January and 1.6 percent in February to 1.5 percent in March to 102.4.

After two months of improvements recorded in January and February, the confidence index for the construction sector plunged 3.6 percent in March to 88.6, the statistics authority said.