Turkey’s sectoral confidence indices announced for July

The Turkish Statistical Institute (TurkStat) released its confidence indices for Turkey’s services, retail trade and construction sectors for July on their website.

According to the data, the seasonally adjusted confidence index for the services increased by 5% in July to 103.7. This rise was driven by the increased 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 increases of 6.3%, 7.2% and 2.2% month on month.

Similarly, the seasonally adjusted retail trade confidence index rose by 6.6% in July to 107.3 due to the increase in the number of managers evaluating the “business activity-sales” as improved over the past three months. In retail trade sector, business activity-sales and business activity-sales expectation indices were up by 14.6% and 6.2% respectively on the month while the current volume of stock index was down by 0.5%.

The seasonally adjusted construction confidence index, meanwhile, decreased by 1.4% in July to 85.5 from 86.7 in June due to the decrease in the number of managers who evaluate the current overall order books as normal and expect an increase in “total employment” in the following three months. In construction sector, current overall order books decreased by 1.2% while total employment expectation index posted a monthly decrease of 1.5%.