Turkish sector confidence indices fall in May

Turkish services sentiment index dropped in May. On seasonally adjusted basis, the confidence index fell 5.4 percent to 92 in May. The fall in the services confidence index stemmed from the decreased number of managers evaluating “business situation” as improved and “demand-turnover” over the next three months. Within the services sector, business situation, demand turnover and demand-turnover expectation indices dropped 5.1 percent, 6.3 percent and 4.5 percent respectively compared to the prior month.

The retail trade confidence fell 3.2 percent to 97.1 in May. The downswing in the retail trade sentiment index resulted from the decreased number of managers evaluating improved “business activity-sales” over the past three months and “current volume of stock” as below normal for the season plus expecting a rebound in “business activity-sales” over the next three months. Within retail trade sector; business activity-sales, current volume of stock and business activity-sales expectation indices dropped 2 percent, 2.8 percent and 4.6 percent respectively compared to the previous month.

Meanwhile, seasonally adjusted construction confidence index dropped 2.1 percent to 77.2 in May. This fall in the sentiment was driven by the decreased number of managers evaluating “current overall order books” as above normal for the season and expecting a rise in “total employment” over the next three months.

Within the construction sector, current overall order books and total employment expectation indices fell 3.3 percent and 1.1 percent respectively compared to the prior month.

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