Turkish economic confidence slips, led by construction

Turkey’s economic confidence index fell to the lowest this year in March, led by a sliump in confidence in the construction industry, the state-run statistics agency said on Tuesday.

Confidence fell to 100.2 from 103.8 in February, the agency in Ankara reported. That was the lowest level since December’s 95.3 reading and the second month of declines.

Construction industry confidence dropped to 78.9 from 83.8, the biggest decline of any sub-section of the index. Retail confidence dropped to 102.6 from 104.7 and services confidence to 99.1 from 100.7. Consumer confidence was 71.3 versus 72.3 in February.

Turkish economic confidence