Turkish construction sector sentiment improves for first month in 10

Confidence among Turkish construction companies rose for the first month since July, boosted by expectation for rising property prices.

Sentiment improved to 79.6 points in May from 77.3 points the previous month, the Turkish Statistical Institute said on Tuesday.

Turkey’s construction industry has been among the hardest hit by the COVID-19 pandemic and a currency crisis in 2018 that left many firms with swathes of unsold housing stock. The government has helped the industry by providing cheap loans from state-run banks and by encouraging other lenders to follow suit.

Sentiment in the services and retail industries deteriorated in May, the institute said. Confidence among retailers fell to 100.9 points from 103.1 points in April. In services, it declined to 102.2 points from 103.3 points.