Confidence in Turkey's construction sector wavers
Tuesday, March 25, 2014
ANKARA - Turkey's sectoral confidence indexes covering the services, retail trade and construction sectors all decreased in March, the Turkish statistical authority reported on Tuesday.
The drop in the indexes, the institute said, was a sign of the deterioration in perception of the Turkish economy,
According to the report, the construction sector led the decrease, declining by over 4 percent during March 2014 to 78.2 points from 81.5.
The confidence index for the retail trade sector was 101.6 points by March 25 down 1.9 percent from 103.6 points the previous month.
While the confidence index for the services sector, dropped by 1.7 percent from 102.9 in February to 101.1 points in March. The services sector represents the portion of Turkey's economy that produces intangible goods such as property, information or administrative services.
The Sectoral Confidence Indexes show how confident investors feel about the stability of their incomes which affects their economic decisions, such as investing activities, and therefore serves as one of the key indicators for the overall shape of the economy. The indexes range between 0 and 200 points indicating an optimistic outlook for 100 points and above and a pessimistic outlook below if they drop below 100 points.
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