Headline: Confidence Indices Released: Service Sector Surges While Construction Falters

According to the data released by the Turkish Statistical Institute for October, notable changes were observed in the sectoral confidence indices, adjusted for seasonal effects. The confidence index in the services sector increased by 1.5% compared to the previous month, reaching a value of 114.2. This rise is considered an indicator of positive economic expectations within the sector.

Continuing growth in the services sector, the business situation index for the last three months increased by 2.4%, from 111.3 to 113.9, indicating a better business environment. Additionally, the demand index for services rose by 1.7%, reaching 114.6. The expectation for service demand over the next three months also increased by 0.4%, from 113.8 to 114.2, suggesting optimism among sector representatives.

In the retail sector, there was limited growth. The confidence index in retail trade showed a slight increase of 0.1%, reaching 110.7. The business volume-sales index for the last three months decreased by 1.3%, from 117.8 in September to 116.3 in October. Meanwhile, the current stock level index increased by 1.5%, reaching 94.1.

The construction sector experienced a decline, with the confidence index falling by 1.7% to 86.3, indicating ongoing uncertainties in the sector. The level of registered orders index dropped by 4%, from 82.4 to 79.1, highlighting a contraction in demand. However, the expected total employment for the next three months increased by 0.3% to 93.5, showing some optimism regarding employment.

The data released by the institute reveal various trends across different sectors of the economy.