TurkStat Announces February 2024 Confidence Indices: Rise in Retail Trade, Decline in Construction

The data reveals a divergent performance across key sectors of the economy.
Services Sector Remains Stable The confidence index for the services sector remained unchanged in February, holding steady at 118.7.
An analysis of the sector's sub-components shows that the business situation over the past three months decreased by 0.8%, while demand for services fell by 1.3%.
However, expectations for demand over the next three months provided a more optimistic outlook, recording an increase of 2.1%.
Retail Trade Sees 2.9% Increase The retail trade confidence index rose by 2.9% in February, reaching a value of 115.8.
During this period, business volume and sales over the last three months increased by 1.6%, while current stock levels rose by 3.2%.
Notably, expectations for business volume and sales over the coming three-month period showed a significant increase of 4%.
Decline in Construction Sector In contrast to the growth in retail, the construction sector experienced a decline.
The confidence index for construction fell by 2.1% during the month.
This decrease stood out as one of the primary factors negatively impacting the overall index data.