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Economic confidence in Turkey falls by 5.9 percent in March: report

Economy

Economic confidence in Turkey falls by 5.9 percent in March: report

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Turkey’s economic confidence index fell 5.9 percent month-on-month in March to 91.8 points, data from the Turkish Statistical Institute indicate, marking a downturn after five straight months of gains, according to Reuters.

The index points to an optimistic outlook when above 100 and pessimistic when below 100. It last stood above 100 points in March of 2018, and the latest data may mark early signs of a slump related to the coronavirus spread.

Turkey recently announced $15 billion in financial support to the sectors hit by the global coronavirus outbreak.

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