Turkish services sector confidence index rises in November

Turkish sectoral confidence indices were released today. According to the Turkish Statistical Institute showed that the services confidence index rose in November by 5.4 percent to 79.8 on a seasonally adjusted basis. Within services sector, business situation, demand-turnover and demand-turnover expectation indices rose 4.8 percent, 8 percent and 4 percent, respectively on a sequential basis.

Meanwhile, retail trade sentiment rose 4.3 percent in the month to 90.7 on a seasonally adjusted basis. Within the retail trade sector, business activity sales and business activity-sales expectation indices rose 6.2 percent and 14 percent respectively compared with the prior month. Nevertheless, current volume of stock index dropped 3.5 percent to 112.9.

On a seasonally adjusted basis, construction sentiment index dropped 3.5 percent to 56.6. Within construction sector, current overall order books and total employment expectation indices dropped 5 percent and 2.5 percent, respectively compared to the prior month.