Türkiye's economic confidence index flat in May

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's economic confidence index edged up to 96.7 in May, marking a slight month-on-month increase of 0.05%, according to data released Wednesday by the Turkish Statistical Institute (TurkStat).

Confidence gains were recorded in several sectors, with construction seeing the highest increase at 3.9%. Consumer confidence rose 1.1%, while services and retail trade posted gains of 0.9% and 0.6%, respectively.

In contrast, the real sector confidence index declined by 2.2% compared to April.

The economic confidence index is considered a key barometer of the overall economic outlook, measured on a scale between 0 and 200. Readings above 100 suggest optimism in the economy, while those below 100 reflect a pessimistic outlook.