The economic confidence index gained 2.1 percent in May from April to stand at 96.7, the Turkish Statistical Institute (TÜİK) said on May 26.
Any index figure above the 100-threshold indicates optimism.
The index declined for three consecutive months between February and April.
TÜİK data showed that consumer confidence, which plunged 7.3 percent in April month-on-month, inched up 0.4 percent in May. The increase in the sub-index stemmed mainly from the improvement in consumers’ expectations regarding households’ financial situation in the next 12 months.
Deterioration in business morale, however, continued for the fourth month in a row. The real sector confidence index fell by 0.7 percent in May, after dropping 0.5 percent in April, to 107, but still remained above the 100-mark.
The confidence index for the services sector, which climbed 3 percent last month, rose by another 6.1 percent on a monthly basis.
Confidence in the retail industry declined slightly in May from April. The confidence index for the sector increased by 1.7 percent, which marked a smaller gain compared to the 2.8 percent rise recorded in April.
TÜİK also reported that the confidence index for the construction sector fell 2.2 percent in May, after rising 3 percent in April.
