According to Turkstat data entitled “Services confidence index”, sectoral confidence indices can take 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.
Services confidence index falls by 6.6 percent
Seasonally adjusted confidence index which was 99.02 for services in December 2015 fell to 92.53 in January 2016.
According to Turkstat, this decline in the services confidence index resulted from the decreased number of managers evaluating “business situation” as improved and “demand-turnover” as increased over the past three months plus expecting an increase in “demand-turnover” over the next three months.
In services sector against the previous month, business situation, demand-turnover and demand-turnover expectation indices decreased by 8.9 percent, 7.7 percent and 3.7 percent respectively.
Construction confidence index decreases by 1.4 percent
Seasonally adjusted confidence index which was at 85.11 level in construction sector in previous month fell to 83.91 in January.
This decline in the construction confidence index stemmed from the decreased number of managers expecting an increase in “total employment” over the next three months, according to Turkstat report. Meanwhile, the number of managers evaluating “current overall order books” as above seasonal normal increased.
In construction sector; while current overall order books index increased by 9.9 percent, total employment expectation index fell by 8.4 percent against the previous month.
Retail trade confidence index rises by 3.6 percent
Seasonally adjusted retail trade confidence index rose to the 108.76 level in January. According to Turkstat, this resulted from the increased number of managers evaluating improved “business activity-sales” over the past three months and “current volume of stock” as below normal for the season.
Meanwhile, the number of managers expecting an improvement in “business activity-sales” over the next three months declined.
Business activity-sales expectation index decreased by 4.5 percent against the previous month, while business activity-sales and current volume of stock indices rose by 14.6 percent and 2.6 percent respectively.