The Turkish Statistical Institute (TurkStat) reported on Monday that confidence levels in key economic sectors showed mixed trends in August.

According to the data, the seasonally adjusted confidence index increased by 1.1% in the services sector, reaching 111.1, and by 0.8% in the retail trade sector, rising to 108.8 compared to the previous month. These gains indicate a modest improvement in business sentiment among service providers and retailers.

In contrast, the construction sector experienced a decline, with its confidence index dropping 4.0% to 85.3, reflecting ongoing challenges and cautious outlooks within the industry.

TurkStat’s monthly confidence indices provide insight into business sentiment and expectations across Turkey’s major economic sectors, serving as a barometer for market conditions and economic stability.

Analysts note that while the rise in services and retail confidence may signal resilience in consumer-oriented sectors, the downturn in construction highlights structural pressures that could affect investment and employment in the coming months. (ILKHA)