According to the monthly consumer tendency survey released by the Turkish Statistical Institute (TUIK), the consumer confidence index* in Turkey, which stood at 75.6 points in April, increased by 2.4 percent month on month in May to 77.5 points, following the 0.9 percent month-on-month increase recorded 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 rose by 3.5 percent month on month to 101.1 points, pointing to an optimistic outlook, while the index for the general economic situation in the next 12 months rose by 3.4 percent compared to April, to 104.7 points, remaining in the optimistic outlook zone.
Meanwhile, in May, the index for whether the present is a good time to purchase durable goods increased by 1.1 percent to 96 points, while the index for the probability of buying durable goods in the next 12 months increased by 3.8 percent to 99.3 points, the probability of buying a car in the next 12 months rose by 30.5 percent to 14.8 points, and the index for the probability of buying or building a home in the next 12 months decreased by 3.6 percent to 10.2 points, all on month-on-month basis.
* 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.