Turkiye’s economic confidence falls for 2nd month in row

ANKARA

Turkiye’s economic confidence index decreased for the second consecutive month in March, the country’s statistical authority announced on Wednesday.

The figure fell 2.5% month-on-month to 95.7 in March, the Turkish Statistical Institute (TurkStat) said in a statement.

All sub-indices except for consumer confidence deteriorated in the month, with the services confidence posting the largest decline.

The services confidence index dove 6.2% from the previous month to 113 in March, while retail trade slid 3.1% to 116 in the same period.

The sub-indices for the real sector and construction decreased by 1.6% and 2% to 108.2 and 81, respectively.

On the other hand, the consumer confidence index increased by 1.9%, reaching 72.5 in March.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.