Turkey’s sectoral confidence indices announced for October
The confidence index for the service sector moved up 0.1% to a seasonally adjusted reading of 97.63 in October following a reading of 97.54 in September because of an increased number of managers expecting stronger demand-turnover data over the next three months.
The retail trade confidence index also posted an increase of 2.7% on the month to a reading of 98.68 in October because of an increased number of managers evaluating their current volume of stock as above normal considering the season and anticipations of an increase in the reading of a business activity- sales measurement for the next three months.
However, the construction sector confidence index dropped 0.5% to a reading of 80.02 in October due to a decreased number of managers judging their current overall order books as above the seasonal average and expectations of a decrease 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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