Turkiye's consumer confidence ticks up in May

By Tuba Sahin

ANKARA (AA) – Turkish consumer confidence increased in May after a sharp decline a month ago, the country’s statistical authority reported on Friday.

The consumer confidence index rose to 67.6 this month, up 0.4% from 67.3 in April, TurkStat said in a statement.

The index is a vital gauge of the economy’s overall performance, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

This month’s increase was driven by the sub-index for financial situation expectation over the next 12 months.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.​​​​​​​