Turkey’s consumer confidence slips in May
Confidence in the Turkish economy has dropped in May, official data has shown.
All sub-indices decreased on a monthly basis in May, according to the TÜİK data.
The probability-of-saving index saw the largest decline, suggesting less people expected to save money. The sub-index dropped 5 percent to 26.8 this month.
Attitudes over the general economic outlook fell 4.2 percent, month-on-month, down from 94.7 to 90.8 in May.
Turkey’s financial situation expectation of household index also saw a monthly decrease of 1.3 percent, at 89 in May.
However, the number of people unemployed expectation index, which is a gauge of the health of the labor market, was down 2.2 to stand at 72.9 in the month.
It indicates an optimistic outlook when the index is above 100 and a pessimistic outlook when it is below 100.