Turkish consumer confidence up slightly in May
AA photoTurkey’s consumer confidence index rose to 68.75 in May from 68.46 in April, increasing for the third straight month, data from the Turkish Statistics Institute (TÜİK) showed on May 23.
The index hit a six-year low of 58.52 in September in 2015 but has subsequently recovered.
The whole index indicates an optimistic outlook when it is above 100 and a pessimistic one when below 100.
The sole improvement among sub-indices was seen in May’s general economic situation expectations index, rising 3 percent from the previous month to 93.71 points.
The financial situation expectation of household index was 89.94, remaining unchanged from the previous month.
However, the probability of savings fell sharply by 5.9 percent to 22.35, suggesting that more and more people feel pessimistic about being able to save money.
The unemployed expectations index also saw a decrease of 0.1 percent from the previous month to 69.01 points.