Economic confidence in Turkish economy down in May

By Tuba Sahin

ANKARA (AA) – The confidence in the Turkish economy decreased on a monthly basis in May, according to Turkish Statistical Institute on Friday.

The economic confidence index slipped 1.3% from April to 92.6 this month, TurkStat said.

The decline stemmed from deteriorations in all sub-indices except construction.

Consumer confidence posted the largest decline by 3.6% in the same period. The reading for retail trade and services went down by 2.1% and 1.1%, respectively.

Real sector confidence index was marginally down by 0.3% from a month ago.

The construction was the sole sub-index in the positive zone, increasing 3% month-on-moth in May.