Türkiye's economic confidence index decreased by 1.5% to 94.4, according to the Turkish Statistical Institute's report released on Tuesday.

In July, all sub-indexes experienced declines on a monthly basis.

The consumer confidence index saw the largest drop, falling by 3.1% to 75.9 and the real sector confidence index followed it by dropping 1.8% to 98.7.

The retail trade confidence index fell by 1.5% to 107.1, while the services confidence index decreased by 1.1% to 114.1. The construction confidence index saw a 0.9% decline, reaching 87.1.

The economic confidence index, as a vital gauge, can be between 0 and 200, it indicates an optimistic outlook when it is above 100, and pessimistic when it is below 100.