The upbeat in Turkish economic confidence in August pushed the reading to a 39-month high, official data showed Friday.

Driven by the services and construction confidence indices, the index rose 0.7% month-on-month to 100.8 points, the Turkish Statistical Institute (TurkStat) said.

The index, which points to an optimistic outlook when above 100 and pessimistic when below, hit a record low last year before recovering as COVID-19 measures were eased in the summer.

The index climbed above 100 points in July for the first time since May 2018.

The previous highest figure was 101.7, posted in May 2018.

The sub-index for construction registered the largest rise with 7.1% to 92.4 during the same period.

The services confidence index followed, rising 1.2% month-on-month to 116.1 in August.

Retail trade confidence and real sector indices were up 0.6% and 0.1%, respectively, in the month.

The consumer confidence index was the only sub-index in the negative zone in August, suffering a 1.6% decrease from a month ago.