Confidence plummets in the services, retail and construction sectors

The Turkish Statistical Institute (TUIK) announced the confidence indices for services, retail and construction for February 2023.

Thus, the seasonally adjusted confidence index for February with respect to the previous month; It decreased 2.2 percent in the services sector, 2.4 percent in the retail trade sector and 3.6 percent in the construction sector.

In the statement made by TURKSTAT, it was indicated that 42 percent of the workplace trend surveys, which are implemented in the first two weeks of each month, were answered in February 2023 before the earthquake.

THE GREATEST DECREASE IN CONSTRUCTION

In the last three months, the employment situation in the services sector decreased by 2 percent compared to the previous month to 116.7 in February 2023. The expectation of demand for services in the next three months decreased 3.7 percent to 112 ,6.

While the volume of business-expectation of sales in the next three months in the retail trade decreased by 7.4 percent with respect to the previous month, it fell to 121.8; In the construction sector, the current level of registered orders is 1.9 percent per month; The expectation for the number of employees in the next 3 months decreased by 5.1 percent.