Turkish services production index sees 0.1% annual decline in August

Several sectors contributed to this overall decrease. Transportation and storage services saw a significant drop of 4.1%, while accommodation and food services declined by 0.2%. However, there were also sectors that witnessed growth, such as information and communication services (up 6.3%), real estate services (up 14.8%), professional, scientific, and technical services (up 0.4%), and administrative and support services (up 0.9%).

On a monthly basis, the services production index decreased by 0.2% in August 2024 compared to July 2024. Transportation and storage services again experienced a decline, this time by 2.3%. Conversely, accommodation and food services, information and communication services, real estate services, and professional, scientific, and technical services all saw increases.

This data provides valuable insights into the performance of the Turkish services sector and may have implications for the overall economy. (ILKHA)