Turkey’s benchmark economic confidence rose to the highest level in three months in June.
A combined index of sentiment among consumers and companies, made up of separate surveys conducted earlier this month, climbed to 97.8 from 92.6 in May, the Turkish Statistical Institute said on Tuesday. Any reading below 100 reflects pessimism.
Turkish business and consumer sentiment improved after the government eased a tight lockdown on the population, imposed in late April as cases of COVID-19 surged to a record. Daily infections have declined to less than 5,000 from more than 63,000 in mid-April, according to official data.
The increase in confidence was led by improvements in the retail and service industries, the data showed.
The economic confidence index last registered a reading of above 100 points in May 2018, just prior to a currency crisis that sent the lira to record lows and sparked a recession.