Turkey’s sectoral confidence indices announced for May
The confidence index for the service sector posted a slight increase of 0.1% on the month to post a reading of 100.69 in May owing to an increased number of managers judging their business situation to have improved over the past three months as well as increased demand-turnover data over the past three months and expectations of stronger demand-turnover data over the next three months.
The retail trade confidence index also posted a seasonally adjusted increase of 1.4% on the month to a reading of 103.26 in May because of an increased number of managers evaluating their current volume of stock as below normal considering the season and anticipations of an increase in the reading of a business activity- sales measurement for the next three months.
Meanwhile, the construction sector confidence index climbed 2.9% to a reading of 83.40 in May due to an increased number of managers judging their current overall order books as above the seasonal average and 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.
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