TURKEY: SECTORAL CONFIDENCE INDEX FOR MAY ANNOUNCED 

Confidence index increased in services, retail trade and construction sectors, according to Turkish Statistical Institute (TUIK). 

The seasonally adjusted confidence index increased by 10.8% in services, 5.0% in retail trade and 31.1% in construction sectors in May compared to the previous month.
 
Seasonally adjusted confidence index which was 46.1 for services in April increased by 10.8% in May to 51.1. In services sector compared to the previous month, demand-turnover expectation over next three months sub-index increased by 82.9% to 77.2. Demand-turnover over past three months sub-index decreased by 19.2% to 39.0 and business situation over past three months sub-index decreased by 22.5% to 37.1.
 
Seasonally adjusted retail trade confidence index increased by 5.0% in May to 79.0. In retail trade sector compared to the previous month, current volume of stock sub-index increased by 1.6% to 120.4. Business activity-sales expectation over next three months sub-index increased by 48.8% to 75.1 and business activity-sales over past three months sub-index decreased by 26.7% to 41.6.
 
Seasonally adjusted construction confidence index which was 44.7 in previous month increased by 31.1% in May to 58.5. In construction sector compared to the previous month, total employment expectation over next three months sub-index increased by 39.9% to 77.1. Current overall order books sub-index became 40.0 by increasing 16.9%.