According to the Turkish Statistical Institute (TUIK), Türkiye’s service production index saw a sharp monthly decline of 2% in February, marking the steepest drop since April 2024. Despite the monthly contraction, the index still posted a 2% year-over-year increase.
The highest annual increases within the index were recorded in “administrative and support services” with 11.6% and “real estate activities” with 9.2%. Other sectors also showed positive growth year-over-year: “information and communication” increased by 4.1%, “professional, scientific and technical activities” rose by 1.9%, and “accommodation and food services” climbed by 1.4%. However, “transportation and storage” declined by 3.5% on an annual basis.
After entering the new year strongly with a 7% year-over-year and 3% month-over-month increase in January 2025, the index experienced a 2% drop in February compared to the previous month. This marks the most significant monthly fall since April 2024.
In terms of monthly changes:
- “Professional, scientific and technical activities” decreased by 4.6%
- “Transportation and storage” fell by 3.1%
- “Accommodation and food services” declined by 1.4%
- “Information and communication” dipped by 1.1%
- “Administrative and support services” rose by 1.3%
- “Real estate activities” surged by 5%
These shifts reflect growing volatility in Türkiye’s service sector amid changing economic conditions.
Source: Bloomberght/ Prepared by: İlayda Gök