24385
Drop in Turkey’s Confidence Index
World Economy

Drop in Turkey’s Confidence Index

Confidence in the service, retail and construction sectors dropped in August, a Tuesday report by the Turkish Statistics Institute revealed, drawing a dismal outlook regarding market activity.
The report, which measures the attitude of business leaders through a series of polls on planned levels of investment and overall expectations, saw confidence in the service and construction sectors contract by 0.7% and 2.6% in the retail sector, in August compared to the previous month, Today’s Zaman reported.
Decrease in the services confidence index stemmed from the decreased number of managers who expect an increased “demand-turnover” in the coming three months.
Downturn in the retail trade confidence index was traced to the decreased number of managers who found current stock volumes below normal for the past season and who expect an increase in “business activity sales” over the next three months.
Decline in the construction confidence index was due to the decreased number of managers evaluating “current overall order books” as above seasonal norms.
The confidence index in services declined from 101.37 in July to 100.65 in August, while it dropped from 104.6 to 101.86 in the retail sector and retreated from 82.7 to 82.1 in the construction sector in the same period.
In a separate report on Tuesday, the Turkish Central Bank said business confidence among Turkish manufacturers also dropped, falling from 105.4 points in July to 103.7 points in August.
Both TurkStat and the bank calculate confidence indices based on a range between 0 and 200 points, where a sub-100 score indicates a downbeat projection and more than 100 reflects an optimistic outlook.

 

Short URL : https://goo.gl/c5fP86
  1. https://goo.gl/X2WjIN
  • https://goo.gl/whxVfG
  • https://goo.gl/dnYhmU
  • https://goo.gl/QuNONh
  • https://goo.gl/CxmOLw

You can also read ...

Malaysia Economy Set to Grow
Malaysia’s economy is set to grow this year with gross...
The high resolution MRI, CT, and sonogram images underpin advances in medical diagnosis.
The growth in labor productivity – real output per hour worked...
Growth is forecast at 2.2% in 2017, down from  a previous projection of 2.8%.
UAE’s real GDP growth will slow in 2017, owing to oil...
EU heavyweights France, Germany and Italy argue that there is growing evidence of discrimination, especially by state owned companies and a determined Chinese strategy to secure the most modern European technologies in key industrial sectors.
Both Brussels and Washington are taking steps to force China...
Based on the index  gas, fuels, water and housing, especially  sub-indexes, declined by 2.4% year on year in July.
Subdued demand due to cash shortages in Zimbabwe has resulted...
German Investor Morale Slumps
German investor confidence fell sharply in August, amid...
Pak Current A/C Deficit Widens
Pakistan posted a glaringly high current account deficit of $2...
The surge in European stocks pushed up the MSCI world equity index.
European stocks broke a three-day losing streak on Tuesday,...

Trending

Googleplus