The economic confidence index in Turkey witnessed a slight decline of 1 percent in April, following a 1 percent increase in March, according to data released by the Turkish Statistics (TÜİK). This drop caused the index to fall below the critical 100-mark, indicating a shift towards less optimism about the overall economic situation.

In April, the economic confidence gauge reached 99, signaling a dip in sentiment across various sectors. Consumer confidence, which had remained relatively stable in March, experienced a modest uptick of 1.4 percent to reach 80.5. This marked the highest level recorded since June of the previous year, suggesting a slight improvement in consumer sentiment.

However, confidence in the real sector remained unchanged in April, following a slight increase of 1.5 percent in March, which had halted a downward trend observed over the previous four months. Conversely, the services sector witnessed a significant decline of 2.8 percent month-on-month, contrasting with the positive momentum seen in March.

Despite these fluctuations, there was a notable improvement in business sentiment within the retail industry, as the real sector confidence index saw a healthy increase of 1.9 percent in April compared to the previous month, marking a positive shift after four consecutive months of decline.

In the construction sector, which plays a significant role in the Turkish economy, the confidence index remained unchanged in April, following a notable decrease of 3.6 percent in March. This stabilization suggests a cautious outlook within the construction industry amid prevailing economic conditions.

Overall, the data reflects a mixed sentiment across different sectors of the Turkish economy, highlighting the need for continued monitoring and strategic interventions to support economic stability and growth.

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