Turkey: Consumer confidence hits highest reading since July 2018 in May
Consumer confidence came in at 91.1 in May, up from April’s 87.5. May’s result marked the best performance since July 2018. That said, the index remained below the 100-threshold, indicating sustained pessimism among consumers.
The uptick was driven by a broad-based improvement across all subcomponents. Households’ views about their current financial situation improved. Additionally, households grew more optimistic regarding their financial situation and the country’s over the next 12 months.
May’s print marked the second successive improvement, pointing to a softer-than-expected fallout of the cataclysm.