Turkish sectoral sentiment indices fall sequentially in September

Turkish sectoral confidence indices dropped in the month of September 2018. On a seasonally adjusted basis, services confidence index dropped 9.7 percent sequentially to 79.4 in September from August’s 79.4. This fall in the services sentiment was driven by the decreased number of managers evaluating “business situation” as improved, “demand-turnover” as increased over the last three months and expecting a rise in “demand-turnover” over the next three months, noted Turkish Statistical Institute.

Within services sector, business situation, demand-turnover and demand-turnover expectation indices dropped by 12 percent 9.1 percent and 8.3 percent, respectively, on a sequential basis.

The sentiment for retail sector also dropped in the month, falling 5.2 percent to 88.5. This downsizing in the retail trade sentient index was stemmed from the decreased number of managers evaluating improved “business activity-sales” over the past three months and expecting a rebound in “business activity-sales” in the next three months. The number of managers evaluating “current volume of stock” as below normal for the season rose.

Within retail trade sector, business activity sales fell 14.2 percent, while the business activity-sales expectation indices dropped 12.9 percent. On the other hand, current volume of stock index rose 8.8 percent sequentially.

Meanwhile, the construction sentiment index fell 16.7 percent in the month to 57.3 from August’s 68.8. The fall 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” in the next three months.

Within construction sector, current overall order books and total employment expectation indices dropped 13.9 percent and 18.7 percent, respectively, on a sequential basis.