https://ahvalnews.com/-Confidence among companies in the retail, services and construction industries fell in March, the Turkish Statistical Institute reported.
Sentiment in the retail sector dropped to 116 from 119.8 in February, the institute said on Friday. Confidence in the services industry worsened to 111.3 from 118.7, and in the construction industry to 81 from 82.7. Any reading below 100 reflects pessimism.
Turkish consumers are becoming more reluctant to spend money on goods and services after the lira slumped against the dollar over the past 12 months, pushing inflation to a two-decade high, and a war broke out in neighbouring Ukraine. Consumer price inflation in the country hit a two-decade high of 54.4 percent last month.
Expectations for demand in the services industry over the next three months decreased to 105.3 from 113.4. In the retail sector, expectations for business activity and sales fell to 116.2 from 119.8.