Service Sector Confidence Index Increased

Service sector confidence index increased. The index fell in the retail and construction sectors.

According to data released by the Turkish Statistical Institute (TURKSTAT), confidence index increased in the service sector and decreased in retail trade and construction sectors. Confidence index not based on seasonal effects In January 2021 compared to December 2020; While it increased by 2.9 percent in the service sector, it fell 0.1 percent in the retail trade sector and 5.2 percent in the construction sector.   Rise in Service Sector Confidence Index The service sector confidence index not based on seasonal effects was 99.0 in December 2020, increased by 2.9 percent in January 2021 and became 101.9. In the service sector, compared to the previous month, the business situation sub-index increased 5.4 percent in the last three months and became 103.0. In the last three months, the demand for services sub-index increased 1.4 percent and was recorded as 98.0. The sub-index of demand for services in the next three months increased by 2.1 percent to 104.6.   Decline in Retail Trade Confidence Index The retail trade confidence index, which is not based on seasonal effects, decreased by 0.1 percent in January 2021 and was recorded as 108.5. In the retail trade sector, compared to the previous month, the business volume sales sub-index decreased by 3.7 percent in the last three months to 118.8. The current level of stock of goods sub-index decreased 1.4 percent and took the value 90.1. In the next three months, business volume-sales expectation sub-index increased by 4.9 percent to 116.7.   Decrease in Construction Sector Confidence Index The construction sector confidence index, which was not based on seasonal effects, decreased by 5.2 percent in January 2021 and became 84.2, while it was 88.8 in the previous month. Compared to the previous month in the construction sector, the current level of registered orders sub-index decreased by 2.5 percent to 75.7. In the next three months, the total number of employees expectation sub-index decreased by 7.4 percent and was recorded as 92.6. In the construction sector, 46.9 percent of enterprises stated that there were no restrictions on their activities in January 2021, while 53.1 percent stated that there was at least one main factor restricting their activities. Among the main factors that restrict activities in the construction industry; "financing problems" were 30.5 percent in December 2020, 26.3 percent in January 2021, "lack of demand" was 24.9 percent in December 2020, 22.4 percent in January 2021, and "Other factors" were recorded as 30.0 percent in January 2021, from 27.5 percent in December 2020.       Click here for TURKSTAT data.