Turkey, Economy

Turkey: Mixed picture for sectoral confidence in Jan.

Key service sectors up; construction, retail trade confidence down in January compared to last month

Tuba Sahin   | 25.01.2021
Turkey: Mixed picture for sectoral confidence in Jan.

ANKARA

Confidence in Turkey's service sectors bettered while construction and retail trade slipped on a monthly basis in January, the country's statistical authority revealed on Monday.

The services confidence index reached 101.9 this month, rising 2.9% from December 2020 thanks to a rise in "demand-turnover" and its expectation, as well as business sentiment, the Turkish Statistical Institute (TurkStat) said in a statement.

Calculated from the monthly survey, results are evaluated within the range of 0-200; sectoral confidence indices signal an optimistic outlook when the value is above 100, and a pessimistic outlook when it is below 100.

The construction confidence index fell 5.2% month-on-month to 84.2 in January, driven by decreases in subindices for current overall order books and total employment expectations over the next three months.

The confidence index for retail trade was marginally down by 0.1% to 108.5 in the same period, as indices of current stock volumes and business activity sales decreased, according to TurkStat.

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