Turkish construction sector confidence down 7.1% in Oct from Sept

Tuesday, 23 October 2012 15:26:28 (GMT+3)   |  
       

According to the monthly sectoral confidence survey released by the Turkish Statistical Institute (TUIK), the confidence index* for the construction sector in Turkey, which stood at 85.1 points in September this year, decreased by 7.1 percent month on month in October, falling to 79 points. October is the sixth consecutive month of decrease in the confidence index for the Turkish construction sector.

According to the indices based on individual questions asked of Turkish construction sector enterprise executives who own private businesses with 10 or more employees, in October this year the confidence index for construction activities recorded in the latest three months, which stood at 105.1 points in September of the current year, decreased by 3.7 percent to 101.2 points.

The executives' answers show that the index for written orders received in the construction sector in October decreased by 0.8 percent month on month to 71.2 points. Executives' expectations for sales prices in the next three months declined by 4.7 percent month on month to 97.9 points.

Meanwhile, players in the sector indicate insufficient demand and financing problems, according to the research results. In October, construction business executives said they thought their current work was enough to maintain activities in the sector for seven months.

* Sectoral confidence index values range between zero and 200. When the index is above 100 it indicates an optimistic outlook about the current and the future period of the sector, when it is below 100 it points to a pessimistic outlook.


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