Türkiye's Consumer Confidence Recovers in May

(MENAFN) Türkiye's consumer confidence displayed a mild rebound in May, reversing the downward trend observed in the previous month, according to figures released on Tuesday.

The consumer confidence index, which reflects sentiment around financial conditions and economic expectations, edged up by 1.1 percent from the prior month, reaching 84.8 points in May, as reported by the Turkish Statistical Institute (TurkStat).

This improvement followed a notable 2.3 percent decline in April, when the index had dropped to 83.9 points.

The component of the index that evaluates households’ "current financial situation" remained steady in May compared to April.

However, the outlook for household financial circumstances over the coming 12 months saw a slight rise of 1.2 percent.

There was a 3.3 percent monthly increase in the sub-index that tracks planned expenditures on "durable goods over the next 12 months," signaling a more optimistic approach to future purchases.

Conversely, expectations concerning the "general economic situation for the next 12 months" dipped by 0.7 percent during the same timeframe.

The consumer confidence index is a significant measure of economic vitality, reflecting the public’s perspective on personal finances, broader economic conditions, and their willingness to spend or save.

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