88th issue of TEPAV Retail Confidence Index has been published.

TEPE, negative since February 2016, with -20,2 points in April decreased to its lowest level of the last 99 months. TEPE has hit a similar level during the 2008-2009 global crisis period. The monthly and annual decrease in TEPE is attributed to the y-o-y and m-o-m decrease in the level of business activity in the last 3 months and sales expectations for the coming 3 months. “Furniture, lighting equipment and household articles” sector was the only sector to show an increase in retail confidence in April. This increase may be linked to the effect of the tax deduction on the sector that entered into force in February. However, this effect has not been found in “electrical appliances, radio and televisions” sector which is also considered within the same subsidy scheme. Furthermore, when compared to the EU-28 and Eurozone, Turkey saw a decline in performance from last year.

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