TurkStat Announces February Sectoral Confidence Indices: Retail Rises, Construction Declines

Stagnation in the Service Sector The Turkish Statistical Institute (TurkStat) has released the seasonally adjusted sectoral confidence indices for February.
According to the data, the service sector confidence index remained stable at 113.8 in February compared to the previous month.
When examining the sub-items of the service sector, the index reflecting the business situation over the last three months fell to 112.2.
During the same period, demand for services decreased by 1.3% to 110.8, while the demand expectation for the next three months increased by 2.1% to reach 118.4.
Retail Trade Shows Positive Divergence Retail trade was the only main sector where the confidence index rose in February.
The retail trade sector confidence index increased by 2.9% compared to the previous month, reaching 113.1.
This increase indicated an improvement in commercial activity and future expectations within the sector.
Decline in Construction In contrast to the retail sector, the construction sector confidence index saw a decline of 2.1% during the same period.