Sectoral confidence indices down in December

The seasonally-adjusted confidence index dropped by 0.5% in the services sector, 0.4% in the retail trade sector and 3.9% in the construction sector in December, as compared to November, according to the Turkish Statistical Institute (TurkStat).

Among all sub-indices, the construction sector index posted the largest monthly decline with 3.9%. This stemmed from a fall in current overall order books and total employment expectation over the next three months.

Calculated from the monthly survey, the results are evaluated within the range of 0-200. Sectoral confidence indices signal an optimistic outlook when the value is above 100, and a pessimistic outlook when it is below 100.

The services confidence index reached 118.8 in December, dropping by 0.5% from November as the business situation and demand-turnover over the past three months worsened.

The retail trade sector confidence index slipped 0.4% from last month to 121.5 in December, as both the current volume of stock and business activity-sales expectation over the next three months declined.

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