ANKARA- TEPE (TEPAV Retail Confidence Indicator) March 2010 results are announced.

Solid recovery in TEPE continues: TEPE March-2010 improved by 11.6 points compared to the same period in 2009. Though the index still moves at the negative zone, possibility of a rise to the positive zone strengthens.

Prospective expectations achieved the positive zone: 44.1 percent of survey participants in March 2010 expect an improvement in their business activities over the three months ahead while 31.1 expect deterioration in their business activities. This signals a recovery by 37.0 points.

TEPE, which moved in parallel with EU retail markets in the aftermaths of the 2008 crisis, started to converge with the EU markets.

In March 2010, the improvement in TEPE values compared to the same month in the year before was above the average in Furniture-Illumination, Motor Vehicles, Large Malls, and Ready-made Clothing sectors and below the average in Food and Beverages.

A comprehensive analysis of TEPE questions reveals that expectations both for the current period and the coming period signal a significant positive trend. Particularly the significant amelioration in the expectations for the coming three months is promising. Another important development is that expectations for employment have turned positive for the first time since the beginning of the crisis. In the light of these, it is possible to conclude that retail sector, as an important source of employment, will start generating employment opportunities in the coming period.