Turkish economic confidence rises 4.8% in Oct

Credit: REUTERS/UMIT BEKTAS

Turkey's economic confidence index climbed 4.8% month-on-month in October to 92.8 points, Turkish Statistical Institute data showed on Wednesday, recording its sixth straight month of recovery from lows caused by measures to combat coronavirus.

ISTANBUL, Oct 28 (Reuters) - Turkey's economic confidence index climbed 4.8% month-on-month in October to 92.8 points, Turkish Statistical Institute data showed on Wednesday, recording its sixth straight month of recovery from lows caused by measures to combat coronavirus.

Economic activity declined sharply in March and April, when the index hit a low of 51.3 points, as Ankara implemented measures to slow the virus spread. Measures were gradually eased in May and mostly lifted in June.

The index, which points to an optimistic outlook when above 100 and pessimistic when below, last stood above 100 points in March 2018.

(Reporting by Canan Sevgili and Berna Suleymanoglu in Gdansk Writing by Ezgi Erkoyun; Editing by Dominic Evans)

((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))

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