Turkey: Economic sentiment decreases in May
Economic sentiment came in at 95.4 in May, down from April’s 96.5. May’s result marked the worst reading since December 2023. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected weaker sentiment in the industrial, construction and retail sectors. Meanwhile, consumer confidence remained stable in May. Lastly, confidence in the services sector improved.
Regarding indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index decreased in May.