TURKSTAT announced October service, retail trade, and construction confidence indices

The Turkish Statistical Institute (TURKSTAT) announced the service, retail trade, and construction confidence indices for October. Accordingly, while the confidence index declined in the service sector in October, it showed an increase in the retail trade and construction sectors.

According to data from the Turkish Statistical Institute, the seasonally adjusted confidence index decreased by 2.4 percent on a monthly basis in October, falling to 109.2 in the service sector. Compared to the previous month, business conditions over the past three months decreased by 3.1 percent, demand for services over the past three months decreased by 3.5 percent, and expectations of demand for services over the next three months declined by 0.7 percent in the service sector.

The confidence index in the retail trade sector increased by 1.1 percent in October to a value of 112.5. In this sector, business volume-sales over the past three months and the current level of merchandise stock increased by 6.2 percent and 1.2 percent, respectively, while expectations for business volume-sales regarding the next three months dropped by 3.4 percent. Meanwhile, the confidence index in the construction sector rose by 0.4 percent in October to 83.3; the current level of registered orders received in the sector and expectations for total number of employees over the next three months both showed an increase of 0.4 percent.