Confidence fell in services and retail, rose in construction

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

Seasonally adjusted confidence index in November compared to the previous month; It decreased by 2.4 percent in the service sector to 110.9, in the retail trade sector it decreased by 1.9 percent to 111.7 and in the construction sector it increased by 2.2 percent to 91 ,0.

DEMAND FOR THE SERVICE HAS DECLINED

In the last three-month period in the service sector, the business situation decreased by 4 percent compared to the previous month in November, falling to 110. In the last three-month period, the demand for services decreased by 4, 6 percent to 108. In the services sector, ‘service demand expectation in the next 3 months’ increased by 1.6 percent compared to the previous month in November, reaching 114.8.

While the turnover and sales in the retail sector decreased by 3.3 percent to 116.4 in the last 3-month period; The current level of stocks of goods remained stable at 95.5.

In construction, registered orders increased by 1.7 percent and reached 83.5. The total number of employees expected in the next 3 months increased by 2.6 percent to 98.6.