Turkey’s service sector confidence index rises sequentially in April

Turkey’s seasonally adjusted sentiment index for the service sector rose 3 percent in April to 99.9 from March’s 96.9. The rise in services sentiment index was driven by the increased number of managers evaluating “business situation” as improved and “demand-turnover” as increased in the past three months plus expecting a rise in “demand-turnover” in the next three months”, stated Statistics Turkey.

Business situation index in the service sector was up 5 percent, while the demand-turnover and demand turnover expectation indices rose 3.3 percent and 1.1 percent respectively on a sequential basis.

Meanwhile, retail trade sentiment index rose 4.1 percent to 101.6 in April on a seasonally adjusted basis. The rise in the retail trade confidence index was driven by the increased number of managers evaluating enhanced “business activity-sales” in the past three months increased and expecting an improvement in “business-activity-sales” in the next three months, stated Statistics Turkey. The number of managers evaluating “current volume of stock” as below normal for the season dropped.

The business activity-sales and business activity-sales expectation indices in the retail trade sector rose 7.2 percent and 7 percent respectively. The current volume of stock index in the retail trade sector, on the other hand, dropped 1.6 percent sequentially.

Meanwhile, construction sentiment index on a seasonally adjusted basis dropped 0.2 percent in April to 85.7 from 85.8 in the earlier month. The fall in the index was because of the decline in the number of managers evaluating “current overall order books” as above normal for the season and expecting a rise in “total employment” in the coming three months.

Within the construction sector, the current overall order books and total employment expectation indices dropped 0.1 percent and 0.2 percent respectively on a sequential basis, noted Statistics Turkey.