Business

Turkey: Mixed picture for sectoral confidence in Feb

Key service sectors up, construction, retail trade confidence slips this month compared to last month

Confidence in Turkey’s key service sectors improved while construction and retail trade fell on a monthly basis in February, the Turkish Statistical Institute (TurkStat) announced on Monday.

The services confidence index rose 3.4% month-on-month to 98.5 in February, thanks to a rise in “demand-turnover” and its expectation, as well as business sentiment, TurkStat said in a statement.

The construction confidence index stood at 74.5 this month, indicating a fall of 5.7% from January.

According to the statement, the index for total employment expectations over the next three months in the construction sector decreased by 5.1% compared to last month to 88.5.

“Current overall order books index became 60.4 by decreasing 6.5%,” it added.

The confidence index for retail trade fell 2% to 102.9 during the same period, driven by a deterioration in indices of current stock volumes, business activity-sales and business activity-sales expectations.

Source
Anadolu Agency
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