Confidence increased in retail, decreased in construction, remained unchanged in service

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Lerato Khumalo

Turkish Statistical Institute (TUIK) announced the service, retail trade and construction confidence indices for February.

Accordingly, the seasonally adjusted confidence index remained at the same level at 113.8 in the service sector on a monthly basis in February, increased by 2.9 percent in the retail trade sector to 115.9, and decreased by 2.1 percent in the construction sector to 83.9.

In the service sector, in February, compared to the previous month, the business situation decreased by 0.8 percent in the last 3 months, the demand for services decreased by 1.3 percent in the last 3 months, while the demand expectation for services in the next 3 months increased by 2.1 percent.

In the retail trade sector, business volume-sales increased by 1.6 percent in the last 3 months, current goods stock level increased by 3.2 percent, and business volume-sales expectations in the next 3 months increased by 4 percent.

While the current level of registered orders received in the construction sector increased by 0.3 percent, the expectation for the total number of employees in the next 3 months decreased by 4.2 percent.