Turkish consumer confidence back on rise in May
Consumer confidence index rises 1.1% from month ago to 84.8 points in May, official data shows
ISTANBUL
Türkiye's consumer confidence in May reversed its downward leaning in the previous month, according to data released on Tuesday.
The consumer confidence index gained 1.1% from a month ago to 84.8 points in May, the Turkish Statistical Institute (TurkStat) said.
This followed a 2.3% monthly decrease in April, when the index was at 83.9 points.
The sub-index measuring households' current financial situation was unchanged in May from a month ago, while household financial situation expectations for the next 12 months rose 1.2%.
The index tracking spending on durable goods over the next 12 months saw a 3.3% increase in May month-on-month.
Meanwhile, the expectations for the general economic situation for the next 12 months fell 0.7% in the same period.
The consumer confidence index serves as a key indicator of the economy's overall health, capturing public sentiment regarding financial conditions, the broader economic outlook, and spending and saving intentions.
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