Confidence fell in the service sector, rose in retail and construction

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

According to TUIK data, while the confidence index decreased in the services sector, it increased in the retail and construction sectors.

Seasonally adjusted confidence index for May compared to the previous month; While it decreased 0.6 percent in the services sector, it increased 0.4 percent in the retail trade sector and 4.3 percent in the construction sector.

LOWER DEMAND EXPECTATIONS IN THE SERVICES SECTOR

In the services sector, the demand for services in the next three months decreased 3.6 percent in May from the previous month and fell to 118. The demand expectation was announced at 122.4 in April.

The stock index for current goods in the retail sector fell 2.4 percent in May. The index, which fell to 96.9 in May, was 99.3 in April.

In the construction sector, the current level of registered orders rose 2.9 percent per month in May. Consequently, the index, which was 92 in April, rose to 97 in May.