Turkey’s sectoral confidence indices announced for October

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

According to the data, the seasonally adjusted confidence index for the services decreased by 2.2% in October to 101.1. This fall was driven by the decreased 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 decreased by 2.4%, 2.3% and 1.8% respectively month on month.

Similarly, the seasonally adjusted retail trade confidence index dropped by 1.9% in October to 104 due to the decrease 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 down by 5.8% and 3.6% respectively on the month while the current volume of stock index increased by 4.6% compared to the previous month.

The seasonally adjusted construction confidence index, meanwhile, increased by 0.9% in October to 84.2 from 83.5 in September due to the increase 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 and total employment expectation indices increased by 0.2% and 1.4% respectively.