Türkiye's consumer sentiment broadly stable in May

Türkiye's consumer sentiment broadly stable in May

Consumer confidence index marginally up by 0.1% from prior month in May, official data shows

By Tuba Ongun

Türkiye’s consumer sentiment was broadly stable at 80.51 in May, the highest since June 2023, according to data released on Thursday.

The consumer confidence index rose 0.1% from a month earlier, the Turkish Statistical Institute (TurkStat) data showed.

Sub-indices for general economic situation expectation over the next 12 months and financial situation of household at present rise by 0.2% and 0.4%, respectively from the prior month.

Assessments on spending for durable goods over the next 12 months, on the other hand, dropped 0.3% month-on-month in May.

The index for financial situation expectations of households over the next 12 months was unchanged compared to April.

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

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