Services, construction confidence decline in May, retail improves

ISTANBUL

Confidence in Türkiye’s services and construction sectors declined in May, while retail trade sentiment improved slightly, according to data released by the Turkish Statistical Institute (TÜİK) on May 21.

Confidence indices above 100 indicate optimism, while readings below 100 point to a pessimistic outlook.
The seasonally adjusted services confidence index fell by 0.6 percent month-on-month to 109 in May.

Within the sector, business conditions over the past three months increased by 0.2 percent, while demand and turnover over the same period declined by 1.6 percent. Expectations for demand and turnover over the next three months decreased by 0.6 percent.

The retail trade confidence index rose by 0.8 percent to 112.5. Business activity and sales over the past three months increased by 1.7 percent, while expectations for business activity and sales over the next three months climbed by 2.5 percent. The current volume of stocks, however, fell by 2.5 percent.

In the construction sector, the confidence index declined by 1.7 percent to 82.1 in May. The current overall order books index edged down by 0.3 percent. Total employment expectations for the next three months decreased by 3.1 percent.