FX.co ★ Turkish Consumer Sentiment Strongest Since Mid-2018

Turkey's consumer confidence strengthened to the highest level since mid-2018 as households expect general economic situation to improve over the coming year, a survey conducted in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkey showed Monday.

The consumer confidence index rose to 91.1 in May from 87.5 in the previous month. This was the highest score since July 2018.

A score below 100 signals a pessimistic outlook, while a reading above 100 indicates optimism.

All components of the consumer sentiment index strengthened in May from the previous month. The index measuring the current financial situation of households rose to 70.6 in May from 69.1 in April.

The index for financial situation expectation of households over the coming twelve months improved to 94.0 from 89.8.

Households' were positive about the future general economic situation ahead of the election in May. The corresponding index hit 100.5, up from 95.2 in April.

The assessment on spending money on durable goods over the next twelve months climbed to 99.1 from 96.1 in the previous month.