Turkey: Economic sentiment falls in August
Economic sentiment fell to 91.4 in August from July’s 91.9. August’s result marked the worst performance since July 2020. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected weaker sentiment in the industrial and services sectors. On the flip side, sentiment in the construction and retail sectors improved in the surveyed month. Finally, consumer confidence strengthened in August.
Regarding indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index increased in August.