Turkey: Sectoral confidence down in February

Indices for construction and retail trade sectors drop while services sector rises in February versus Sept, says TurkStat

By Gokhan Ergocun

ISTANBUL (AA) - Confidence in Turkey's construction and retail trade sectors dropped, while confidence in the services sector rose in February from the previous month, the Turkish Statistical Institute (TurkStat) announced on Friday.

The construction sector index dropped 8.7 percent to 51.8 this month, from 56.7 in January.

The retail trade confidence index fell 1.9 percent month-on-month to 90.8 in February, from 92.5 in the previous month.

The services sector confidence index was up 1.5 percent to 79.5 points in February, from 78.3 in January.

Sectoral confidence indices range from 0 to 200, indicating an optimistic outlook when above 100, but a pessimistic outlook when below, according to TurkStat.

Consumer confidence in the Turkish economy fell 0.7 percent to 57.8 in February, TurkStat reported earlier this week.

TurkStat is due to announce Turkey’s economic confidence index on Feb. 27.

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