Confidence Firmer At Services And Construction, Weaker At Retail Sales

- Sectoral confidence indexes rose in February at services and construction sectors, while confidence fell at retail sales, according to the data released by Turkstat on Monday.

Sectoral confidence indices can take value between 0 and 200, indicating an optimistic outlook when it is above 100 and a pessimistic outlook when it is below 100.

Seasonally adjusted services confidence index rose by 0.9 percent to 101.94 in February, up from 101.04 in January.

This increase in the services confidence index stemmed from the increased number of managers evaluating an improved business situation and an increase in demand-turnover over the past three months. The demand-turnover expectation over the next three months remained unchanged.

In services sector, business situation index and demand-turnover index increased by 1.6 percent and 1.2 percent respectively compared to the previous month.

Construction confidence index rose by 2.9 percent to 84.98 in February, due to increased number of managers evaluating current overall order books as above seasonal normal and expecting an increase in total employment over the next three months.

In construction sector, current overall order books index and total employment expectation index increased by 0.4 percent and 4.7 percent respectively compared to the previous month.

On the other hand, seasonally adjusted retail trade confidence index fell by 0.8 percent to 103.53 in February. This drop in the retail trade confidence index stemmed from the decreased number of managers evaluating current volume of stock as below seasonal normal.

The number of managers evaluating an increase in business activity-sales over the past three months and expecting an increase in business activity-sales over the next three months increased.

In retail trade sector, current volume of stock index decreased by 4.9 percent while business activity-sales index and business activity-sales expectation index increased by 1 percent and 1.5 percent respectively compared to the previous month.