Turkey: Economic sentiment hits highest reading since May 2023 in March
Latest reading: Economic sentiment rose to 99.2 in March from February’s 97.3. March’s result marked the best reading since May 2023. Nonetheless, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected stronger sentiment in the industrial sector and among consumers. On the flip side, sentiment in the construction, services and retail sectors deteriorated in the surveyed month.
Regarding indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index fell in March.