Turkey’s consumer confidence index down in May

Hitting 77.3, index down by 3.6% from last month, official data shows

Turkey’s consumer confidence index slipped on a monthly basis to 77.3 in May, the country’s statistical authority said on Friday.

May’s confidence index, jointly calculated by TurkStat and the Central Bank through the measurement of consumer tendencies, decreased 3.6% from April.

The consumer confidence index, calculated from survey results, is evaluated within the range of 0-200, indicating optimism when the index is above 100 and pessimism when below.

All sub-indices deteriorated this month, with the financial situation expectation of households index struggled the most. The sub-index fell 5.5%, suggesting that fewer people were expecting a better financial situation in the next 12 months.

The general economic situation expectation over the coming 12 months decreased 4.9% month-on-month in May.

The financial situation of the household index at present compared to the past 12 months period slipped 3.8% during the same period.

The index for assessment on spending money on durable goods over the next 12 months posted a slight decrease of 0.7% from last month.

The monthly survey measures consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies.

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