Confidence index declines across Turkish services, retail, and construction sectors

The confidence index in the services sector decreased by 1.7%, to 116.3 points. The confidence index in the retail trade sector decreased by 0.4%, to 117.3 points. And the confidence index in the construction sector decreased by 0.7%, to 99.3 points.

A confidence index of 100 indicates a neutral outlook, while a reading above 100 indicates an optimistic outlook and a reading below 100 indicates a pessimistic outlook.

The decrease in the confidence index in the services, retail trade and construction sectors suggests that businesses in these sectors are less optimistic about the economic outlook.

This could be due to a number of factors, including the high inflation rate, the depreciation of the Turkish lira, and the ongoing war in Ukraine. (ILKHA)