Turkey: Sectoral confidence down in October

Indices for service and retail trade sectors drop while construction rises in current month compared to Sept, says TurkStat

Turkey: Sectoral confidence down in October

Confidence in Turkey's services and retail trade sectors dropped, while the construction sector rose in October compared to the previous month, the Turkish Statistical Institute (TurkStat) announced on Thursday.

The services sector index dropped 4.7 percent to 75.7 this month, from 79.4 in September. 

The retail trade confidence index fell 1.8 percent month-on-month to 87 in October, from 88.5 in the previous month.

The construction sector confidence index was up 2.3 percent to 58.7 points in October, from 57.3 in September.

Sectoral confidence indices range from 0 to 200, indicating an optimistic outlook when above 100, but a pessimistic outlook when below 100, according to TurkStat.

Meanwhile, consumer confidence in the Turkish economy fell by 3.4 percent to 57.3 in October, TurkStat reported this week.

TurkStat is due to announce Turkey’s economic confidence index on Oct. 31.