Consumer confidence index down in May

Dünya Executive - - OVERVIEW -

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.

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