Turkey: Sectoral confidence up in November

By Aysu Bicer

ANKARA (AA) - Confidence in Turkey's services sector posted an increase in November compared to last month, while the key sectors of retail trade and construction inched down, the country's statistical authority reported on Monday.

"Seasonally adjusted confidence index which was 90.7 for services in October increased by 0.7% in November to 91.3," the Turkish Statistical Institute (TurkStat) said.

The retail trade confidence index stood at 101.2 this month, down 1.1% from 102.3 last month.

The seasonally adjusted construction confidence index -- 65.1 last month -- decreased in November to 63.9, according to TurkStat.

"In the construction sector, current overall order books index decreased by 8.1% to 44.5 while total employment expectation index increased by 1.7% to 83.3 compared to the previous month," it added.

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

The indices indicate an optimistic outlook when the value is above 100, and a pessimistic outlook when it is below.

TurkStat will release the next sectoral confidence figures on Dec. 25.