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Confidence in Turkey’s economy stood at 78.5 percent in January, down 4.2 percent from a month earlier, data from the Turkish Statistical Institute showed on Wednesday.

As Anadolu Agency quoted the statistics, the month-on-month decrease stemmed from drops in consumer, real sector, services and retail trade confidence indices to 58.2, 95.4, 78.3 and 92.5 in January, respectively.
Meanwhile, the construction confidence was the only index which saw an increase to reach 56.7 in the first month of 2019.

The economic confidence index is seen as a significant reading of the economic course as it is a composite index that aggregates sub-indices of consumer confidence, real sector services, retail trade and construction confidence indices, reflecting an overall sentiment of health of the economy.