Confidence increased in retail and construction, decreased in services

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

Thus, seasonally adjusted confidence index for September compared to the previous month; In the services sector, it decreased 2 percent to 113.0.

While in the retail trade sector the index increased by 3.0 percent and reached 117.7, in the construction sector it increased by 1 percent and reached 88.3.

THE BIGGEST FALL IS IN DEMAND EXPECTATIONS

The largest decline in the services sector was in “service demand expectations in the next 3 months,” at 4.2 percent.

The important factor supporting the increase in retail trade was experienced on the side of “business volume-sales expectation in the next 3 months”. Consequently, this expectation increased by 6.5 percent compared to the previous month.

In construction, “expectations for the total number of employees in the next three months” increased by 3.7 percent month-on-month.