Türkiye’s consumer confidence index rises to 84.8 in May

The consumer confidence index in Türkiye rose slightly in May, reaching 84.8, according to data released by the Turkish Statistical Institute (TurkStat) on Tuesday.

The index, jointly calculated by TurkStat and the Central Bank of the Republic of Türkiye (CBRT) based on the monthly consumer tendency survey, showed a modest 1.1% increase compared to April, when it stood at 83.9.

The consumer confidence index is considered a key indicator of household sentiment regarding the general economic situation, expectations for the future, and tendencies in spending. A reading below 100 reflects pessimism among consumers, while a figure above 100 indicates optimism.

Though still below the neutral level of 100, the rise suggests a slight improvement in consumer outlook amid ongoing economic reforms and policy adjustments.

Further details on the sub-indices that contribute to the overall figure — such as expectations on household income, spending on durable goods, and general economic conditions — are expected to be released in the full report later this week. (ILKHA)