Confidence up in Turkey’s services, retail sectors, down in construction

ANKARA

Sectoral confidence in Turkey rose for services and retail trade and fell for construction in November compared with last month, the country’s statistical authority announced on Nov. 26.

“Seasonally adjusted confidence index, which was 75.7 for services in October, increased by 5.4 percent in November to 79.8,” the Turkish Statistical Institute (TÜİK) said.

TÜİK reported that the retail trade confidence index stood at 90.7 in November, up 4.3 percent from 87 in October.

“Seasonally adjusted construction confidence index, which was 58.7 in the previous month, decreased by 3.5 percent in November to 56.6,” it added.

Sectoral confidence indices calculated from the monthly survey results are evaluated within the range of 0-200, according to the statistics office.

These indices indicate an optimistic outlook when the value is above 100, a pessimistic outlook when it is below 100.