Turkey Economic Confidence Rises Slightly

(RTTNews) - Turkey's economic sentiment improved marginally in May after falling to a 7-month low in the previous month, survey results from the Turkish Statistical Institute in Ankara showed on Wednesday.

The economic sentiment index rose to 96.7 in May from 96.6 in April. However, any reading below 100 indicates a pessimistic outlook.

Among components, the morale for the services sector remained more positive in May as the corresponding index climbed to 110.5 from 109.5, and the measure for the retail trade sector improved to 111.2 from 110.6.

Data showed that the confidence index for the construction increased to 88.4 from 85.1. Meanwhile, manufacturing confidence weakened to 98.6 from 100.8.

Data showed that the Turkish consumers remained slightly less pessimistic in May, with the corresponding index rising to 84.8 from 83.9 in April.