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Turkey’s consumer confidence index edges up 0.4% in May

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/05/2016 (17:49)
Turkey’s consumer confidence edged up 0.4% from a month earlier in May, according to a Consumer Tendency Survey carried out by the Turkish Statistical Institute in cooperation with the Central Bank of the Republic of Turkey.

The consumer confidence index climbed to a reading of 68.75 in May from a reading of 68.46 in April. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.

The index of financial expectations of households for the next 12 months remained mostly stable in May at 89.94 compared with 89.97 in April while the index of expectations for the number of unemployed persons in the next 12 months slid 0.1% to a reading of 69.01 in May.

The index of expectations for the general economic situation for the next 12 months rose 3% on the month to post a reading of 91.71 in May from a reading of 91.02 in the previous month. The higher reading indicates that the number of consumers who expect a better general economic situation in the next 12 months has increased compared with the previous month.

Meanwhile, the index of the probability of saving in the next 12 months decreased 5.9% month over month to 22.35 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 declined compared to the previous month.
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