The Turkish economic confidence index decreased 2.8% month-over-month to 97.9 in March, according to the official data released by the country's statistical office on Monday.

The index stood at 100.7 in February and 99.4 in January, according to the Turkish Statistical Institute (TurkStat).

All sub-indices posted declines in March, with the real sector and construction confidence indexes both dropping 3.9%.

Consumer confidence edged down 0.8%, while services and retail trade confidence indices fell 0.5% and 2%, respectively.

The economic confidence index, a composite indicator of the country's overall economic situation, indicates an optimistic outlook when above 100 and a pessimistic one when below 100.