Turkey sees mixed picture of sector confidence in May
Turkey’s service and retail sectors recorded a drop in confidence in May, while the construction sector saw an increase, the country’s statistical authority reported on Tuesday.
Seasonally adjusted confidence indices for services and retail trade fell 1.1% and 2.1%, respectively, on a month-over-month basis in May, and the construction industry index rose by 3%, according to the Turkish Statistical Institute (TurkStat).
The services index fell to 102.2 in May, from 103.3 in April.
In the service sector, the business situation and demand turnover over the past three months, the sub-indices experienced a decline in May compared to the previous month, “and forecasts of demand turnover over the past three months. the next three months increased by 5.2% to 109 ”.
The retail confidence index fell to 100.9 in May.
Trade-sales activity over the past three months has shown a decline while the current volume of the stock sub-index and forecast trade-sales activity over the next three months increased in May.
The construction sector index was up to 79.6 this month, from 77.3 the month before.
The current aggregate order books sub-index declined, while the total employment expectations sub-index rose during the month.
The sector confidence indices calculated from the results of the monthly survey are evaluated within a range of 0 to 200.
These indices indicate an optimistic outlook when the value is above 100, a pessimistic outlook when it is below 100.
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