TÜİK announces August data: Confidence in the service sector has fallen

According to the August data released by the Turkish Statistical Institute (TÜİK), the confidence index in the service sector decreased by 2 percent. On the other hand, an increase of 0.8 percent was observed in the retail trade sector and 1.1 percent in the construction sector.

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TÜİK announces August data: Confidence in the service sector has fallen

The Turkish Statistical Institute (TÜİK) has released the Service, Retail Trade, and Construction Confidence Index data for August.

CONFIDENCE IN THE SERVICE SECTOR DECREASED BY 2 PERCENT

According to the data from the Turkish Statistical Institute (TÜİK), the confidence index decreased by 2 percent in the service sector, while it increased by 0.8 percent in the retail trade sector and 1.1 percent in the construction sector.

According to the seasonally adjusted confidence index data announced by the Turkish Statistical Institute (TÜİK), while declines were observed in the service sector and retail trade sector confidence indices, an increase was recorded in the construction sector confidence index.

DECLINE IN THE SERVICE SECTOR CONFIDENCE INDEX

The service sector confidence index, which was recorded at 114.1 in July, fell to 111.8 in August. This indicates that confidence in the service sector decreased by 2.0 percent compared to the previous month. In the sector, business conditions and demand for services over the last 3 months also fell by 1.5 percent and 2.0 percent, respectively. The demand expectation for the next 3 months also decreased by 2.4 percent, falling to 112.8.

CONSTRUCTION SECTOR CONFIDENCE INDEX INCREASED

The construction sector confidence index rose from 87.1 in July to 88.0 in August. This increase was 1.1 percent. While a 1.2 percent increase was seen in the current level of registered orders, the expectation for the total number of employees in the next 3-month period increased by 1.0 percent.