Turkey: Sectoral confidence falls in September

By Tuba Sahin

ANKARA

Confidence in Turkey's key sectors of services, retail trade and construction fell month-on-month in September, the country's statistical office revealed Monday.

The construction sector confidence index dropped 16.7 percent to 57.3 points last month, according to a statement from TurkStat.

"This drop in the construction confidence index stemmed from the decreased number of managers evaluating 'current overall order books' as above normal for the season and expecting an increase in 'total employment' over the next three months," TurkStat said.

The services sector index was 79.4 points in September, down 9.7 percent from the previous month due to sentiment from sector leaders who expect increase in 'demand-turnover' and evaluate deterioration in the business situation compared to previous months.

Turkey's retail trade confidence index decreased 5.2 percent to reach 88.5 during the same period as less managers in the sector expect an improvement in business activity-sales over the next three months.

"The number of managers evaluating 'current volume of stock' as below normal for the season increased," TurkStat added.