Turkey's sectoral confidence slips in May

Turkey's sectoral confidence slips in May

ANKARA-Anadolu Agency
Turkeys sectoral confidence slips in May

Sectoral confidence in Turkey decreased for construction, services and retail trade on a monthly basis in May, the country's statistical authority said on May 23.

The construction sector confidence index dropped the most in the month with a 7.7% month-on-month decrease to reach 49.8 points, data from the Turkish Statistical Institute (TÜİK) showed.

This drop stemmed from fall in current overall order books and total employment expectation indices, it said.

“Seasonally adjusted confidence index which was 83.1 for services in April decreased by 4.4% in May to 79.4,” according to the data.

Turkey's retail trade confidence index went down 0.7% to 89.9 during the same period.

"In retail trade sector; business activity-sales and business activity-sales expectation indices decreased by 3.7% and 0.3% respectively, compared to last month, to 73.3 and 87.6.

"However, current volume of stock index increased by 1.1% to 109," it added.