Turkey: Economic sentiment rises in May
Latest reading: Economic sentiment came in at 96.2 in May, up from April’s 95.8. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The improvement was driven by stronger sentiment in the construction, retail and services sectors. Moreover, consumer confidence improved in May. On the flip side, sentiment in the industrial sector weakened.
Regarding indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index improved in May.