Turkish consumer confidence index down in May

ISTANBUL-Anadolu Agency

Confidence of Turkish consumers in the economy fell by 13% in May, the Turkish Statistical Institute (TÜİK) said on May 21.

On a monthly basis, the index was valued at 55.3 in May, down over eight points versus the previous month, the statistical authority said.

In April, the consumer confidence index rose 6.9% to 63.5 from 59.4 in March.

The index value is jointly calculated by TÜİK and the Central Bank of Turkey through measurement of consumer tendencies.

In 2018, the index value hovered between 72.7 and 57.6 -- the highest being in July and the lowest in October.