Sectoral confidence rises in services, falls in retail and construction

According to TurkStat data, the seasonally adjusted confidence index increased by 1.1 percent in the services sector, decreased by 4.4 percent in the retail trade sector, and 1.5 percent in the construction sector in March compared to the previous month. TurkStat Service, Retail Trade, and Construction Confidence Indices published the March 2023 data. Accordingly, the confidence index increased in the services sector, decreased in the retail trade and construction sectors. The seasonally adjusted confidence index increased by 1.1 percent in the services sector, decreased by 4.4 percent in the retail trade sector, and 1.5 percent in the construction sector in March compared to the previous month. The service sector confidence index was 115.5 in February and became 116.8 in March. The retail trade sector confidence index was 123.1 in February, but showed a rapid decline in March and was recorded as 117.7. The construction sector confidence index, which was 89.8 last month, became 88.5 this month. Confidence indices can take values between 0-200, an index greater than 100 indicates the optimism of the sector regarding the current and future periods, while an index less than 100 indicates pessimism.