Confidence increased in services and construction, decreased in retail trade

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

Thus, seasonally adjusted confidence index for October compared to the previous month; It increased 0.5 percent in the services sector to 113.6, decreased 3.3 percent in the retail sector to 113.9 and increased 0.9 percent to 89.1 in the the construction.

DECREASE IN SALES EXPECTATIONS AFFECTED THE RETAILER

While the “business situation in the last 3 months” in the service sector decreased by 0.3 percent month-on-month in October to 114.5, the “demand for services in the last 3 months” index had a positive impact and increased 0.9 percent monthly. , reaching 113.2.

The drop that most affected confidence in the retail sector was experienced in the ‘business volume-sales expectation in the next 3 months’ side. The monthly drop here reached 4 percent.

When we look at the breakdowns that increase confidence in construction, we see that “expectations for the total number of employees in the next 3 months” increased by 1.4 percent month-on-month to 96.1.