Confidence rose in services and retail, fell in construction
The Turkish Statistical Institute (TUIK) announced the confidence indices for services, retail and construction for June 2023.
Thus, seasonally adjusted confidence index for June compared to the previous month; While it increased 0.6 percent in the services sector and 0.9 percent in the retail trade sector, it decreased 3.5 percent in the construction sector.
Confidence indices take values in the range of 0-200. If the index is greater than 100, it indicates the optimism of the sector for the current and future period, and less than 100 indicates its pessimism.
DECREASE IN ORDERS FROM THE CONSTRUCTION INDUSTRY
The ‘expectation of demand for services in the next 3 months’ in the services sector increased by 1.9 percent over the previous month and reached 120.3. In the past three months, demand for services fell 0.7 percent to 117.5.
In the last three months, turnover-sales in the retail sector decreased 0.6 percent to 127.2; The current level of inventories of goods increased by 1.6 percent to 98.4.
On the other hand, construction orders fell 4.7 percent to 83.2.
The expectation for the total number of employees in the next three months decreased by 2.4 percent to 94.7.