Confidence plummets in the services, retail and construction sectors

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

Seasonally adjusted confidence index with respect to the previous month of July; It decreased 0.6 percent in the services sector, 2.6 percent in the retail trade sector and 0.9 percent in the construction sector.

BUSINESS VOLUME AND SALES DOWN

In the last three months, the employment situation in the services sector decreased by 0.6 percent compared to the previous month and fell to 114.9.

In the services sector, the ‘expected demand for services in the next three months’ decreased by 1.7 percent in July from the previous month and fell to 118.2. In the past three months, demand for services rose 0.4 percent to 117.

While turnover-sales increased 1.3 percent in the last three months in the retail sector, it rose to 128.8; The current level of inventories of goods decreased by 3.2 percent to 95.3.

On the other hand, registered construction orders increased by 0.6 percent and amounted to 83.6. The expectation for the total number of employees in the next three months decreased by 2.3 percent and increased to 92.5.