Sectoral confidence in Turkey increases in August

ANKARA

Confidence in Turkey's key sectors of services, construction, and retail trade increased month-on-month in August, according to the country's statistical authority on Wednesday.

Seasonally adjusted confidence index, which was 114.8 for services in July, increased by 1.2% in August to 116.

The construction sector confidence index climbed 7.1% from last month to 92.4 in July, as both the current overall order books and employment expectations over the next three months improved.

The retail trade confidence index rose 0.6% month-on-month to 110.3, driven by the sub-index on business activity sales over the past three months.

Calculated via a monthly survey, the index is evaluated within the range of 0-200, with sectoral confidence indices signaling an optimistic outlook when the value is above 100, and a pessimistic outlook when it is below 100.