Consumer confidence index down in May
Confidence in the economy fell by 13 percent in May, the Turkish Statistical Institute (TurkStat) said on May 21. On a monthly basis, the index was valued at 55.3 in May, down more than eight points versus the previous month, according to the statistical authority. In April, the consumer confidence index rose 6.9 percent to 63.5 from 59.4 in March. In 2018, the index value hovered between 72.7 and 57.6 - the highest being in July and the lowest in October. In May,
the highest decline was seen in the probability of saving index, falling by 20.3 percent to 20.8. The index for the general economic situation expectations stood at 70.1, down 14.9 percent from 82.4 in April. “The number of people unemployed expectation index, which was 63.5 in April, decreased by 11.3 percent to 56.3 in May,” TurkStat said. It added that the financial situation expectation of households index dropped by 10.1 percent to stand at 73.9 in May.