Confidence in Turkey’s key sectors fell on a monthly basis in April, according to Turkstat. The deterioration owes to rising COVID-19 cases, new round of curfew measures and of course the weakening in the TL along with the spike in interest rates.
Seasonally adjusted confidence index decreased by 2.0% in services sector, 5.6% in retail trade sector and 3.1% in construction sector in April compared to March.
Seasonally adjusted sectoral confidence indices, April 2021
Seasonally adjusted confidence index which was 105.5 for services in March decreased by 2.0% in April to 103.3. In services sector compared to the previous month, business situation over past three months sub-index increased by 0.2% to 103.2. Demand-turnover over past three months sub-index increased by 1.4% to 103.2 and demand-turnover expectation over next three months sub-index decreased by 7.2% to 103.6.
Seasonally adjusted retail trade confidence index decreased by 5.6% in April to 103.1. In retail trade sector compared to the previous month, business activity-sales over past three months sub-index decreased by 0.4% to 116.8. Current volume of stock sub-index decreased by 6.8% to 87.7 and business activity-sales expectation over next three months sub-index decreased by 9.9% to 104.7.
Seasonally adjusted construction confidence index which was 79.8 in March decreased by 3.1% in April to 77.3. In construction sector compared to the previous month, current overall order books sub-index became 74.9 by decreasing 1.8%. Total employment expectation over next three months sub-index decreased by 4.3% to 79.7.