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<\/p>\nT\u00fcrkiye’s economic confidence rose in May after falling to a nine-month low in the previous month, driven mainly by stronger consumer retail and manufacturing sentiment, official data showed on Monday.<\/p>\n
The economic confidence index increased 0.8% month-over-month to 97.2 in May from 96.4 in April, according to the Turkish Statistical Institute (TurkStat).<\/p>\n
April’s reading marked the lowest level for the index in nine months.<\/p>\n
The index combines assessments from consumers and businesses across multiple sectors, including manufacturing, services, retail trade and construction, to provide a broader picture of economic sentiment.<\/p>\n
A reading above 100 indicates optimism about the overall economic outlook, while levels below 100 signal pessimism.<\/p>\n
The consumer confidence index rose 0.3% in May to 85.8, the data showed.<\/p>\n
Meanwhile, the real sector confidence index, which reflects sentiment in the manufacturing industry, climbed 2.4% to 101.<\/p>\n
The services sector confidence index fell 0.6% month-over-month to 109 in May, while the construction sector confidence index declined 1.7% to 82.1.<\/p>\n
Retail trade sentiment, however, improved during the month, with the sector confidence index rising 0.8% to 112.5.<\/p>\n
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