Turkiye’s economic confidence rises in May, ending 3-month decline

ANKARA

Turkiye’s economic confidence index increased in May, ending its consecutive three-month decline, according to data released by the country’s statistical authority on Thursday.

The figure rose to 96.7 in April, a gain of 2.1% from the previous month, the Turkish Statistical Institute (TurkStat) said in a statement.

"This increase in economic confidence index stemmed from the increases in consumer, services and retail trade confidence indices," it said.

On a monthly basis, the consumer confidence index increased by 0.4% to 67.6, the services confidence index rose by 6.1% to 121.7, and the retail trade confidence index increased by 1.7% to 121.4 in May, compared to the previous month.

However, the real sector manufacturing industry confidence index decreased by 0.7% to 107.0, and the construction confidence index declined by 2.2% to 81.6 in May, from the month before.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.

ANKARA

Turkiye’s economic confidence index increased in May, ending its consecutive three-month decline, according to data released by the country’s statistical authority on Thursday.

The figure rose to 96.7 in April, a gain of 2.1% from the previous month, the Turkish Statistical Institute (TurkStat) said in a statement.

"This increase in economic confidence index stemmed from the increases in consumer, services and retail trade confidence indices," it said.

However, the real sector manufacturing industry confidence index decreased by 0.7% to 107.0, and the construction confidence index declined by 2.2% to 81.6 in May, from the month before.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.