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Türkiye's business confidence indicators presented a mixed picture in July, with the construction sector posting significant gains while services and retail trade experienced modest declines, according to data released by the Turkish Statistical Institute (TurkStat).
The seasonally adjusted confidence index for July showed the construction sector rising 2.2% month-over-month to reach 88.8, bucking the downward trend seen in other major sectors. Meanwhile, the services sector confidence index fell 0.8% to 110, and retail trade confidence dropped 0.5% to 107.9.
The services sector faced headwinds across multiple indicators during the month. Business conditions over the past three months declined 0.5%, while demand for services over the same period fell 1%. Expected demand for services over the next three months also decreased by 1%.
Retail trade showed similar challenges, with business volume and sales over the past three months falling 1%. Expected business volume and sales for the next three months dropped 1.1%, while current inventory levels rose 1%.
Despite a 0.7% decrease in the current level of registered orders received, the construction sector demonstrated resilience with strong employment expectations. The sector's expectation for total employee numbers over the next three months surged 4.9%, suggesting optimism about future business prospects despite current order challenges.
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