Confidence down in three major sectors

ISTANBUL - Hürriyet Daily News

Confidence regarding the services, retail trade and construction sectors decreased in November 2012 compared to the previous month. Confidence indexes for services, retail trade and construction sectors decreased by 7.2 percent, 4.8 percent and 3.6 percent respectively.

The confidence index, which had been 103.0 for services, 99.2 for retail trade and 79.0 for construction in October 2012 became 95.6, 94.4 and 76.2 respectively in November 2012, according to the Turkish Statistical Institute (TUİK. Sectoral confidence indexes can take a value between 0 and 200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100. The confidence decrease in the services sector stemmed from the deterioration in the business situation and demand/turnover over the past three months and demand/turnover expectation over the next three months, TÜİK said. The deterioration in business activity/sales over the past three months and business activity/sales expectations over the next three months hit confidence in the retail trade sector, the report said.