Economic confidence index edges up 0.8 percent in May

ISTANBUL

Economic confidence index rose by 0.8 percent month-on-month in May to 97.2, the Turkish Statistical Institute (TÜİK) said on May 25.

An index above 100 indicates an optimistic outlook for the general economic situation.

The consumer confidence index, which advanced 0.5 percent in April, increased by a further 0.3 percent in May to 85.8.

The real sector (manufacturing industry) confidence index rose by 2.4 percent to 101 in May, following a 1.4 percent decline in the previous month.

Confidence in the services sector, which dropped 3.1 percent in April, edged down by 0.6 percent to 109.
The retail trade confidence index, which had fallen 1.8 percent in April, increased by 0.8 percent to 112.5.

Meanwhile, construction confidence — which had surged 3.6 percent in April — declined by 1.7 percent to 82.1 in May compared with the previous month.