Turkey's consumer confidence falls 1.6% in May
The consumer confidence index declined to a reading of 64.29 in May following a reading of 65.35 in the previous month. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.
The index of expectations for the general economic situation for the next 12 months decreased 0.7% on the month to post a reading of 85.50 in May. The lower reading index indicates that the number of consumers who expect a better general economic situation in the next 12 months has decreased compared with the previous month.
The index of financial expectations of households for the next 12 months followed a stable trend in May at 86.16 while the index of expectations for the number of unemployed persons in the next 12 months also declined by 1.6% to a reading of 65.70.
Meanwhile, the index of the probability of saving in the next 12 months dropped 11.6% month over month to 19.79 in May. This decrease means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has decreased.
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