Consumer confidence rose in May

The Turkish Statistical Institute (TUIK) announced the Consumer Confidence Index for May 2023.

Accordingly, the Consumer Confidence Index, calculated from the results of the Consumer Trend Survey conducted in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkey, increased by 4.0 percent. in May compared to the previous month. The index, which was at 87.5 in April, became 91.1 in May.

While the consumer confidence index calculated from the survey results is in the range of 0 to 200, an index above 100 indicates an optimistic state in consumer confidence and an index below 100 indicates a pessimistic state. in consumer confidence.

INCREASED SUBINDICES

In May, the household financial situation in the current period increased 2.2 percent compared with the previous month and reached 70.6. The expectation of the household financial situation in the next 12 months increased by 4.7 percent to 94, and the expectation of the general economic situation in the next 12 months increased by 5.7 percent to 100.5.

The increase in the thought of spending on durable goods in the next 12 months increased by 3.1 percent to 99.1 in May.