Turkish consumer confidence down 3.1 percent in May from Apr

According to the monthly consumer tendency survey released by the Turkish Statistical Institute (TUIK), the consumer confidence index* in Turkey, which stood at 78.5 points in April, decreased by 3.1 percent month on month in May this year to 76 points, following the 7.9 percent month-on-month increase in April. 
 
According to the indices based on individual questions asked of Turkish consumers concerning the consumer tendency, in May the index for the general current economic situation fell 3.6 percent month on month to 98.8 points, while the index for the general economic situation in the next 12 months decreased by 4.1 percent compared to April, to 102.7 points.
 
Meanwhile, in May the index for whether the present is a good time to purchase durable goods increased by 8.6 percent to 84.8 points, while the index for the probability of buying durable goods in the next 12 months moved down 0.8 percent to 99.7 points, both on month-on-month basis.
 
In May, the probability of buying a car in the next 12 months increased by 24.1 percent to 15.6 points and the index for the probability of buying or building a home in the next 12 months increased by 14.9 percent to 12.6 points, both month on month.
 
*When the index is above 100 it indicates an optimistic outlook, when it is equal to 100 it indicates a neutral outlook and below 100 it points to a pessimistic outlook.