The Turkish Statistical Institute (TurkStat) released its latest economic confidence data on Tuesday, revealing a mixed performance across key sectors for the month of March.

According to the institute’s statement, the seasonally adjusted confidence index saw a slight uptick in the services sector, while declines were recorded in both the retail trade and construction sectors compared to the previous month.

In the services sector, the confidence index edged up by 0.2%, reaching a level of 114.4. This modest increase signals a cautious optimism among service providers, reflecting a stable outlook despite broader economic challenges. Meanwhile, the retail trade sector experienced a notable drop, with the confidence index falling by 2.5% to 113.4. The decline suggests growing uncertainty among retailers, potentially driven by shifting consumer behavior or economic pressures.

The construction sector also saw a dip, with its confidence index decreasing by 0.5% to 88.9. This marks a continued softening in sentiment within the industry, which has faced ongoing headwinds in recent months.

TurkStat’s report highlights the uneven economic landscape in Turkey, with the services sector showing resilience while retail and construction grapple with waning confidence. Analysts will be watching closely to see how these trends evolve in the coming months as the nation navigates its economic course. (ILKHA)