According to the Turkish Statistical Institute (TÜİK), the index value in services climbed 22.4% year-on-year in the month.
The turnover indexes in trade and industry also went up by 15.1% and 13.9%, respectively, during the same period.
However, the calendar adjusted turnover index in construction decreased by 26.8% in June compared with the same month last year.
According to TÜİK’s definition, turnover is an important short-term indicator used to assess the country’s economic situation.
Turnover indices are calculated to follow the changes of this concept, which is composed of the sales of goods and services invoiced by the enterprise in the reference month over time, to monitor developments on a quarterly and yearly basis.
All the enterprises which give value-added tax declarations to the country’s Revenue Administration are included in the turnover index calculation.
Hurriyet Daily News