Turkey’s economic confidence index weakened to its lowest level in more than a year, data by the country’s statistical authority showed Thursday.

The economic sentiment index fell 0.2% month-over-month to 93.4 in July, from 93.6 in June, the Turkish Statistical Institute (TurkStat) statement said.

The latest sentiment was the lowest since May last year when the reading was 92.8.

The decline was driven by the deterioration in manufacturing, services and retail trade confidence indices. Construction and consumer categories were up in the month.

The consumer confidence index rose 7.4% from the previous month to 68 in July, while the retail trade index lost 4.5% to 113.4 in the same period, the data showed.

The confidence index for the manufacturing industry fell to 102.5 in July and the measure for services declined to 117.8. The sub-indices for the real sector dropped 2% to 102.5.

On the other hand, the construction confidence index gained 2.4%, reaching 85 in June.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.