Turkey’s sectoral confidence indices announced for Dec

The Turkish Statistical Institute (TurkStat) released its confidence indices for Turkey’s services, retail trade and construction sectors for December on their website. According to the data, the seasonally adjusted confidence index decreased by 3.5% in December to 93.35 on a monthly basis. This decrease was driven by the reduced number of managers’ evaluations of “business situation” as improved and “demand-turnover” as increased.

In service sector, the business situation, demand-turnover and demand-turnover expectation indices also showed respective decreases of 4%, 4.6% and 2.3% month on month.

The seasonally adjusted retail trade confidence index, however, rose by 0.1% in December due to the increase in the number of managers evaluating the “business activity-sales” as improved over the past three months and “current volume of stock” as below normal for the season.

The seasonally adjusted construction confidence index grew by 0.5% in December to 76.15 from 75.75 in November due to the increase in the number of managers who expect an increase in “total employment” in the following three months.