Turkey’s sectoral confidence indices announced for August

The Turkish Statistical Institute (TUIK) released its confidence indexes for Turkey’s services, retail trade and construction sectors for August on their website. Since January 2014, the Institute has started to publish sectoral confidence indices on a seasonally adjusted basis in order to provide more reliable comparisons between consecutive periods.

The confidence index for the service sector decreased 9.7% to a seasonally adjusted reading of 91.06 in August following a reading of 100.86 in July because of a decreased number of managers expecting stronger demand-turnover data over the next three months.

The retail trade confidence index fell to a seasonally adjusted reading of 101.19 in August because of a decreased number of managers anticipating an improvement in business activity-sales over the next three months.

The construction sector confidence index decreased to a reading of 79.43 in August following a reading of 82.95 in August due to decreased number of managers expecting an increase in total employment over the next three months.

Any reading above 100 indicates an optimistic outlook while readings below 100 indicate a pessimistic outlook.