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Wednesday, June 19, 2024

Economic Confidence in Turkiye Dips in May 2024

In May 2024, Turkiye witnessed a dip in its economic confidence index, marking a decline of 0.8 percent to reach 98.2, as reported by Turkstat. While the consumer confidence index saw a modest uptick of 0.1 percent, reaching 80.51, the real sector confidence index experienced a notable decrease of 1.1 percent, settling at 102.4. Similarly, the retail trade confidence index saw a significant downturn, plummeting by 3.3 percent to 111.7.

The nuanced changes across different sectors contributed to the overall decline in economic confidence. Despite a marginal improvement in consumer sentiment, the manufacturing industry and retail trade sectors bore the brunt of the decrease, highlighting a challenging economic landscape in Turkiye for the month of May 2024.

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