TurkStat-Sectoral confidence fell in services and retail

Confidence index decreased in services and retail trade sectors while increased in the construction sector, according to the Sectoral Confidence Indices data, released by Turkish Statistical Institute

The seasonally adjusted confidence index decreased by 6.0 percent in services and 1.2 percent in retail trade sectors while increased by 3.7 percent in the construction sector in March compared to the previous month.

The seasonally adjusted confidence index which was 98.5 for services in February decreased by 6.0 percent in March to 92.5. In the services sector compared to the previous month, demand-turnover expectation over the next three months sub-index decreased by 7.6 percent to 97.7. The business situation over the past three months sub-index decreased by 4.8 percent to 90.6 and demand-turnover over the past three months sub-index decreased by 5.6 percent to 89.3.The seasonally adjusted retail trade confidence index decreased by 1.2 percent in March to 101.7. In the retail trade sector compared to the previous month, the current volume of stock sub-index increased by 0.2 percent to 108.0. Business activity-sales expectation over the next three months sub-index decreased by 2.4 percent to 102.5 and business activity-sales over the past three months sub-index decreased by 1.4 percent to 94.4.Seasonally adjusted construction confidence index which was 74.5 in the previous month increased by 3.7 percent in March to 77.2. In the construction sector compared to the previous month, total employment expectation over the next three months sub-index increased by 5.4 percent to 93.4. The current overall order books sub-index became 61.1 by increasing 1.2 percent.In the construction sector, 62.9 percent of the enterprises indicated at least one factor limiting their activities while 37.1 percent of the enterprises indicated none in March. Among the main factors limiting activities in the construction sector; "financial constraints" which was 42.1 percent in February realized as 42.0 percent in March, "insufficient demand" which was 34.7 percent in February realized as 31.1 percent in March and "weather conditions" which was 18.3 percent in February realized as 11.2 percent in March.Sectoral confidence indices can take a value 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.