Sector confidence indices send mixed signals
The Turkish Statistical Institution (TurkStat) announced on Wednesday that the seasonally adjusted services confidence index increased by 0.2 percent in September. The services confidence index, which was 99.3 for services in August, moved up to 99.6 in September. The increase in the services confidence index stemmed from the increased number of managers evaluating improved business situations and increased demand turnover in the past three months. The number of managers expecting an increase in demand turnover in the next three months remained unchanged.According to TurkStat, the seasonally adjusted retail trade confidence index decreased by 0.9 percent. The confidence index, which was 104.9 for retail trade in August, dropped to 103.9 in September. This decrease in the retail trade confidence index stemmed from the number of managers who evaluated decreased business activity sales over the past three months and the negative effects of seasonal impacts leading to reduced stock levels. The number of managers expecting an increase in business activity sales over the next three months increased according to data.TurkStat's report also highlights that the seasonally adjusted construction confidence index increased by 1.8 percent in September. The confidence index which was 82.2 for construction in the previous month moved up to 83.6 in September. This increase in the construction confidence index stemmed from the increased number of managers evaluating current overall order books as above the seasonal norm and expectations of an increase in the total employment level over the next three months.In the construction sector; the current overall order books index and the total employment expectation index increased by 2.8 percent and by 1.1 percent respectively compared to the previous month. Sector confidence indices can take value between 0 and 200. It indicates an optimistic outlook when the index is above 100 and indicates a pessimistic outlook when it is below 100. Since January 2014, sector confidence indices have also been published as seasonally adjusted.
Last Update: September 24, 2014 21:08