Turkish sectoral confidence indices fall in June

Turkish services confidence index dropped in June on a seasonally adjusted basis. The sentiment index for May fell 0.8 percent in the month to 91.2. This fall in the services confidence index was triggered by the fall in number of managers evaluating “business situation” as improved and “demand-turnover” as increased over the next three months.

The number of managers expecting a rise in “demand-turnover” over the next three months rose. Within the services sector, business situation and demand-turnover fell 5.6 percent and 3.3 percent respectively compared to the earlier month while demand-turnover expectation index rose 5.5 percent.

Meanwhile, retail trade confidence index also dropped in the June. The index fell 2.8 percent to 94.4. This downswing in the retail trade sentiment index was due to the decreased number of managers evaluating improved “business activity-sales” in the past three months and “current volume of stock” as below normal for the season. The number of managers expecting a rebound in “business activity sales” over the next three months rose. Within retail trade sector, business activity-sales and current volume of stock indices dropped 9.3 percent and 3.1 percent respectively compared to the previous month while business activity-sales expectation index rose 3.4 percent.

Construction confidence index dropped 2.4 percent in June to 75.3. The drop in the construction sentiment index stemmed from 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 fell 5.1 percent and 0.4 percent respectively compared to the earlier month.

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