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Türkiye's Consumer Confidence Edges Up in May
(MENAFN) Türkiye's consumer confidence showed a positive turn in May, reversing the decline seen the previous month, according to the latest data released on Tuesday.
The Turkish Statistical Institute (TurkStat) reported that the consumer confidence index increased by 1.1%, reaching 84.8 points in May, following a 2.3% drop to 83.9 points in April.
The sub-index tracking the current financial situation of households remained steady compared to the previous month, while expectations for household finances over the next year saw a 1.2% rise.
The index for anticipated spending on durable goods also saw a significant 3.3% increase in May.
On the other hand, expectations regarding the general economic situation over the next 12 months fell by 0.7%.
The consumer confidence index is a vital measure of the overall economic climate, reflecting public sentiment about financial conditions, the economic outlook, and consumer spending and saving intentions.
The Turkish Statistical Institute (TurkStat) reported that the consumer confidence index increased by 1.1%, reaching 84.8 points in May, following a 2.3% drop to 83.9 points in April.
The sub-index tracking the current financial situation of households remained steady compared to the previous month, while expectations for household finances over the next year saw a 1.2% rise.
The index for anticipated spending on durable goods also saw a significant 3.3% increase in May.
On the other hand, expectations regarding the general economic situation over the next 12 months fell by 0.7%.
The consumer confidence index is a vital measure of the overall economic climate, reflecting public sentiment about financial conditions, the economic outlook, and consumer spending and saving intentions.
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