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Turkey’s services confidence falls as retail sentiment improves

Turkey’s seasonally adjusted services confidence index fell 2.4 percent in October, while retail and construction confidence increased. Services businesses reported weaker recent conditions and demand. Retailers’ recent sales assessment improved, but their expectations for the next three months declined. Construction registered modest gains in existing orders and employment expectations.

Economics & Markets··Morning
A representative Turkish restaurant interior with plates and tea glasses on wooden tables, a stainless service counter and open kitchen behind, and a Turkish flag on the wall.

Services businesses report weaker demand

Turkey’s seasonally adjusted services confidence index fell 2.4 percent in October to 109.2, according to Turkish Statistical Institute data. It had stood at 111.9 in September. Retail and construction confidence increased in the same release, producing a mixed picture across the three business sectors covered by the monthly survey.[1], [2]

Services businesses’ assessment of the preceding three months fell 3.1 percent to 106.8. Their recent demand index declined 3.5 percent to 105.8, while expectations for demand over the coming three months slipped 0.7 percent to 115.0.[1]

Retailers’ recent sales improve

Retail trade confidence rose 1.1 percent to 112.5. Recent business volume and sales improved 6.2 percent to 121.5, but expectations for the next three months fell 3.4 percent to 123.6. The stock-level indicator rose 1.2 percent to 92.5; an increase in this measure indicates lower inventories.[1]

Construction orders edge higher

Construction confidence increased 0.4 percent from 83.0 to 83.3. Existing registered orders rose from 80.4 to 80.7, while expectations for the number of employees over the coming three months moved from 85.5 to 85.9. Both components increased 0.4 percent over the month.[1]

References

  1. News source24 Saat GazetesiServices confidence falls as retail and construction rise↩1↩2↩3↩4
  2. News sourceEndeks24Turkey’s services confidence records sharp fall↩
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