Turkey’s economic confidence index posted a monthly decline in November, according to official data released on Friday.

The index decreased by 3.5% to reach 89.5 in November, down from 92.8 in October, the Turkish Statistical Institute (TurkStat) said.

“This decrease in economic confidence index stemmed from the decreases in consumer, real sector (manufacturing industry), services and construction confidence indices,” TurkStat said.

Among sub-indices, services, real sector, consumer, and construction confidence indices were down on a monthly basis.

The retail trade index, meanwhile, remained unchanged at 95 in November.

The consumer confidence index, calculated from survey results, is evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100, and a pessimistic one when it is below.

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