Turkey’s sectoral confidence indices announced for May
The confidence index for the service sector increased 5.1% to a seasonally adjusted reading of 94.50 in May following a reading of 89.93 in April because of an increased number of managers expecting stronger demand-turnover data over the next three months.
However, the retail trade confidence index edged down 0.1% to a seasonally adjusted reading of 103.82 in May because of a decreased number of managers anticipating an improvement in business activity-sales over the next three months.
The construction sector confidence index also declined 2.9% to a reading of 79.18 in May following a reading of 81.54 in May due to a 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.
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