Sectoral confidence indices down in March

Confidence in key sectors in Turkey tapered off compared to last month, according to the Turkish Statistical Institute (TurkStat).

Among all sub-indices, the services sector suffered the most, falling 6.2% to 111.3 in March as the business situation and demand-turnover over the past three months besides expectations for the next three months worsened.

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

The retail trade sector confidence index dropped 3.1% from last month to 116, driven by decline in both the current stock volume and business activity-sales expectations.

The construction confidence index reached 81 this month, down 2% from February.

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