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

All sub-indices except for consumer confidence deteriorates in March, with services confidence posting largest decline

By Tuba Sahin

ANKARA (AA) – 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.

Kaynak:

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