Turkey's Sectoral Confidence Indices Down In November

Turkey's services and construction sectors posted declines in confidence in November, while the retail trade sector remained unchanged, the country's statistical authority reported on Tuesday.

Seasonally adjusted confidence indices for services and construction was down by 2.8% and 5.7%, respectively, month-on-month in November.

The index for services rose 77.5 in November, down from 79.7 in October, according to the Turkish Statistical Institute (TurkStat).

In the services sector, the business situation and demand-turnover sub-indices saw declines in November compared to the previous month.

The construction sector index was 79 this month, down from 83.8 in the previous month.

Sub-indices of current overall order books and total employment expectation were down in the month.

The retail trade confidence index stood at 95 in November.

Business activity-sales over past three months and business activity-sales expectation over next three months posted declines while current volume of stock sub-index saw an increase in November.

Sectoral confidence indices calculated from the monthly survey results are evaluated within the range of 0-200.

These indices indicate an optimistic outlook when the value is above 100, a pessimistic outlook when it is below 100. -