Confidence plummets in the services, retail and construction sectors
The Turkish Institute of Statistics (TUIK) announced the confidence indices in services, retail and construction for August 2023.
Consequently, seasonally adjusted confidence index compared to the previous month in August; It decreased 1.7 percent in the services sector, 0.4 percent in the retail trade sector and 0.7 percent in the construction sector.
HIGHER DECLINE IN RETAIL SALES
Looking at the details of the confidence index, it was seen that the business situation in the service sector for the last 3 months decreased by 1.2 percent compared to the previous month and decreased to 115.4. In the last three months, the demand for services decreased 2.7 percent to 113.8.
In the retail trade sector, turnover and sales decreased by 3.3 percent per month in the last three months to 124.5 in August. Sales expectations for the next three months rose 2.6 percent to 123.2.
In construction, the current level of registered orders decreased 0.2 percent on a month in August, while expectations for the total number of employees in the next three months decreased 1.3 percent.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
