Turkey: Sectoral Confidence Up In May

In Turkey, confidence in all sectors posted a rise in May, the country's statistical authority reported on Friday.

Seasonally adjusted confidence indices for services, retail trade and construction rose 10.8%, 5% and 31.1%, respectively, month-on-month in May.

The index for services rose to 51.1 in May, up from 46.1 in April, according to the Turkish Statistical Institute (TurkStat).

"In services sector compared to the previous month, demand-turnover expectation over next three months sub-index increased by 82.9% to 77.2," it noted.

Retail trade confidence index, which rose to 79 in May, was 75.2 last month, while construction confidence index reached 58.5, increasing from 44.7.

Business activity-sales expectation for the next three-month period rose by 48.8% to 75.1, while "current overall order books sub-index became 40 by increasing 16.9%."

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. -