Turkey’s sectoral confidence indices announced for Nov

The Turkish Statistical Institute (TurkStat) released its confidence indices for Turkey’s services, retail trade and construction sectors for November on their website. According to the data, the seasonally adjusted confidence index increased by 2.4% in November to reach 96.78 on a monthly basis. This increase was driven by the managers’ evaluations of “business situation” as improved and “demand-turnover” as increased.

In the service sector, the business situation index was up by 1.2%, demand-turnover index increased by 3.5% while demand-turnover expectation index rose by 2.6% month on month.

The seasonally adjusted retail trade confidence index fell by 0.2% in November due to the decrease in the number of managers evaluating the “business activity-sales” as improved over the past three months.

The seasonally adjusted construction confidence index fell by 6.9% in November to 75.75 from 81.32 in October due to the decrease in the number of managers who expect an increase in “total employment” in the following three months.