The Turkish Statistical Institute (TUIK) released confidence indices for the services, retail trade and construction sectors for January. Accordingly, the seasonally adjusted confidence index increased as monthly by 1.3% in the services sector and 1.5% in construction, while it declined by 2.4% in the retail trade sector.
According to the data, the services confidence index increased by 1.3% on a monthly basis to 113.8 in January. During this period, business conditions over the past three months increased by 1.6%, while demand for services increased by 3.4%. However, expectations for service demand over the next three months decreased by 0.9%.
In the retail trade sector, the confidence index dropped by 2.4% to 112.6. Business volume and sales over the past three months declined by 4.1%, while the current level of inventories decreased by 0.9%. Expectations for business volume and sales over the next three months also decreased by 1.8%.
In the construction sector, the confidence index increased by 1.5% to 85.7 in January. The current level of registered orders received increased by 2.7%, while expectations for total employment over the next three months edged up by 0.4%.
TUIK's data showed that optimism improved in the services and construction sectors in January, while weakness persisted in retail trade. This outlook indicates a divergence in domestic demand and economic expectations across sectors.
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