Turkey: Economic sentiment records worst reading since May 2021 in July
Economic sentiment fell to 92.0 in July from June’s 92.5. July’s result marked the worst performance since May 2021. Consequently, 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 construction and services sectors. Moreover, consumer confidence softened in July. That said, confidence in the industrial and retail sectors rose in the surveyed month.
Relating to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index rose in July.