Economic confidence index up 1.5 percent in May

The economic confidence index increased 1.5 percent compared to previous month, increasing from 80.97 to 82.16 in May, according to data released yesterday by Turkish Statistical Institute (Turkstat). According to Turkstat, the increase in economic confidence stemmed mainly from the increase in the real sector confidence index, which had a 1.2 percent increase in May compared to the previous month along with increases in services, retail trade and construction confidence indices. Economic confidence index is a composite index that encapsulates consumers and producers' evaluations, expectations and tendencies about the general economic situation.