Turkish sectoral confidence little changed in April

Turkish indices tracking confidence in services, retail and the construction sectors showed little change in April as an economic downturn persisted.

Confidence in the services sector, which is seasonally adjusted, rose to 83.1 this month from 81.6 in March, the Turkish Statistical Institute said on its website on Wednesday. In the retail, industry, confidence edged down to 90.6 from 90.7 and construction industry confidence was 53.9 compared with 54.1 in March.

Turkey’s economy entered a recession in the second half of last year, sparked by a currency crisis. Economic indicators show the downturn has persisted in 2019, though the government says the worst of the turmoil is over.

Any reading for the indices lower than 100 shows pessimism about the outlook.