Turkey’s sectoral confidence indexes send mixed signals

Confidence Index for retail trade sector rose while service and construction sectors fell In July.

Turkey’s sectoral confidence indexes send mixed signals
Retail trade sector confidence index in July rose suggesting optimism among retail trade investors while the service and construction sectors fell, Turkey's statistical authority said on Thursday.

Sectoral confidence indexes show managers' perception on the economic climate to determine if business activity is expected to improve or deteriorate, which ultimately affect decisions for new investments.

According to figures released by Turkstat, the services' confidence index fell from 97.9 points in June to 95.2 points this month, a 2.7 points drop on the 0-200 scale of confidence.

Managers of the construction sector are also less confident for the business situation for the next three months, as the confidence index dropped to 78.5 in July, 1.4 points lower than the previous month.

Retail trade confidence index, however, showed a slight increase with 1.1 points in July compared to June, a sign that the business climate for this sector is expected to get better.

Sectoral confidence indexes can take a value of between 0 and 200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.
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