Confidence indices for local sectors drop in December

ANKARA - Anadolu Agency

Sectorial confidence indices can be between 0 and 200 and indicate an optimistic outlook when is above 100. AA photo

Confidence indices for Turkey’s construction sector decreased by 4.9 percent while the services and retail trades dropped by 4.6 percent and 6.4 percent, respectively, over December.

The confidence index, which came in at 99.6 for services, 98.2 for retail trade and 77.1 for the construction sectors in the previous month, were 95, 92 and 73.3 respectively, according to sectorial confidence indices for the month released by the Turkish Statistical Institute (TÜİK) yesterday.

Sectorial confidence indices can take a value between 0 and 200 and indicate an optimistic outlook when the index is above 100, but a pessimistic outlook below 100.

The plunge in the services confidence index stemmed from the deterioration in the business situation over the past three months sub-index by 6 percent, demand-turnover over the past three months sub-index by 4 percent and demand-turnover expectation over next three months sub-index by 3.6 percent.

The decrease in the retail trade confidence index stemmed from the decline in business activity-sales over the past three months sub-index by 15.6 percent and business activity-sales expectation over the next three months sub-index by 6.4 percent. The current volume of stock sub-index increased by 3 percent compared to the previous month.

The decline in the construction confidence index stemmed from the decrease in current overall order books and total employment expectation over the next three months sub-indices that decreased by 2 percent and 7.2 percent, respectively, compared to the previous month.