Türkiye’s services and construction confidence rise in July, retail trade confidence falls

ANKARA

The seasonally adjusted confidence index increased in the services and construction sectors in July compared with the previous month, while declining in the retail trade sector, the Turkish Statistical Institute (TÜİK) said on July 27.

The confidence index rose 1.4 percent month-on-month to 112 in the services sector and 0.6 percent to 83.5 in the construction sector. The retail trade confidence index fell 1.6 percent to 111.

In the services sector, the business situation over the past three months increased 0.5 percent from June, while demand for services over the same period decreased 0.2 percent. Expectations for demand over the next three months rose 3.7 percent.

In the retail trade sector, the volume of business and sales over the past three months declined 0.5 percent, current inventory levels decreased 0.1 percent, and expectations for business activity and sales over the next three months fell 3.8 percent.

In the construction sector, the current level of registered orders increased 3.9 percent compared with the previous month, while expectations for total employment over the next three months decreased 2.3 percent.

Confidence indices range between 0 and 200. A reading above 100 indicates an optimistic outlook, while a reading below 100 indicates a pessimistic outlook.