Sectoral confidence decreased in services and retail, increased in construction

According to TurkStat data, the seasonally adjusted confidence index decreased by 1.7 percent in the services sector and 1.0 percent in the retail trade sector in January compared to the previous month, while it increased by 0.6 percent in the construction sector. TurkStat published the Service, Retail Trade and Construction Confidence Indices data for January 2023. Accordingly, the confidence index decreased in the services and retail trade sectors while it increased in the construction sector. While the seasonally adjusted confidence index decreased by 1.7 percent in the services sector and 1.0 percent in the retail trade sector in January 2023 compared to the previous month, it increased by 0.6 percent in the construction sector. The seasonally adjusted confidence index increased by 1.7 percent in the services sector, 4.5 percent in retail trade and 1.2 percent in construction in December compared to the previous month. Confidence indices can take values between 0 and 200, and an index greater than 100 indicates the sector's optimism about the current and future period, while an index less than 100 indicates pessimism.