ANKARA: Turkey's economic confidence index dropped for a second straight month to 86.4 points in December, reflecting a surge in coronavirus cases that brought curfews, weekend lockdowns and restaurant closures, according to official data on Tuesday.
The index declined 3.5% month-on-month, the Turkish Statistical Institute said. It hit a record low when the pandemic struck earlier this year, recovered for six straight months as measures were eased, and then dipped again in November.
The index, which points to an optimistic outlook when above 100 and pessimistic when below, last stood above 100 points in March 2018. Turkey's economy is skidding again due to the new restrictions and higher interest rates meant to rein in double-digit inflation that is expected to edge higher in early 2021.
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