Turkish consumer confidence up in May

ANKARA

Turkey’s consumer confidence index was up 0.4 percent in May from the previous month, the Turkish Statistics Institute said on Monday.

The consumer confidence index, carried out with the Central Bank, rose to 68.75 in May from 68.46 in April, up 0.4 percent or 0.29 points, according to Turkstat.

The sole improvement among sub-indices was seen in May’s general economic situation expectations index, rising 3 percent from the previous month to 93.71 points.

The financial situation expectation of household index was 89.94, unchanged from the previous month.

However, the probability of saving sharply fell by 5.9 percent to 22.35, suggesting that more and more people feel pessimistic about being able to save money.

The number of people unemployed expectations index also saw a decrease of 0.1 percent from the previous month to 69.01 points.