Confidence in Turkey’s services and retail trade sectors declined in May, while the construction sector saw an increase, the country's statistical authority reported Tuesday.
Seasonally adjusted confidence indices for services and retail trade were down by 1.1% and 2.1%, respectively, month-on-month in May. The construction sector index, on the other hand, was up by 3% according to the Turkish Statistical Institute (TurkStat).
The index for services dropped to 102.2 in May, down from 103.3 in April, while the retail trade confidence index decreased to 100.9 in May.
Sectoral confidence indices calculated from the monthly survey results are evaluated within the range of 0-200.
These indices indicate an optimistic outlook when the value is above 100, and a pessimistic outlook when it is below 100.
In the services sector, the sub-indices for the business situation and demand-turnover over the past three months declined in May; however, the demand-turnover expectation over the next three months sub-index is expected to increase by 5.2% to 109, according to the report.
Business sales over the past three months posted a decline, while the sub-indices for the current volume of stock and expected sales over the next three months increased in May.
The construction sector index was up to 79.6 this month from 77.3 in the previous month.
The sub-index of current overall order books decreased while the total employment expectation sub-index was up for the month.
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