Turkey’s sectoral confidence indices up in Oct

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's sectoral confidence indices posted positive results this month, the country's statistical authority reported on Monday.

Seasonally adjusted confidence indices for services, retail trade, and construction were up by 2.1%, 4.8% and 1% month-on-month in October.

The index for services rose to 120.3 in October, up from 117.8 in September, according to the Turkish Statistical Institute (TurkStat).

In the services sector, the business situation and demand-turnover indices also saw increases in October compared to the previous month.

The construction sector index registered at 92.7 this month, increasing from 91.8 in the previous month.

The sub-index of current overall order books decreased, while total employment expectations were up during the month.

The retail trade confidence index stood at 121.1 in October, up from 115.6.

Business activity-sales over and the current volume of stock sub-indices saw increases in the month.

Sectoral confidence indices calculated from monthly survey results are evaluated within the range of 0-200.

These indices indicate an optimistic outlook when above 100 and a pessimistic one below.