Turkey: Sectoral confidence rises in May

By Tuba Sahin

ANKARA

Confidence in Turkey’s services, retail trade and construction sectors advanced in May compared to the previous month, the Turkish Statistical Institute (TurkStat) announced Tuesday.

The retail trade confidence index reached 102.8 points in May, up 1.1 percent from the previous month as sales improved.

The services sector index advanced by 2.1 percent to 102.2 in May from 99.9 in April, according to TurkStat.

"This increase in the services confidence index stemmed from the increased number of managers evaluating 'business situation' as improved and 'demand-turnover' as increased over the past three months [...]," the institute said.

Turkey's construction sector confidence index also saw a rise of 0.8 percent month-on-month to 86.3 points due to the fact that sector leaders expect total employment over the next three months to increase.