Turkey Economic Confidence Rises In May

(RTTNews) - Turkey's economic confidence remained less pessimistic in May, survey results from the Turkish Statistical Institute in Ankara showed on Monday.

The economic sentiment index rose to 97.2 in May from 96.4 in April. However, any reading below 100 indicates a pessimistic outlook.

Among components, morale for manufacturing strengthened to 101.0 from 98.6, and retail trade confidence rose to 112.5 from 111.6. The confidence indicator for the services sector eased to 109.0 from 109.7, while the constructors remained more pessimistic, with the index falling to 82.1 from 83.6.

Confidence among households remained slightly less negative, and the respective index rose to 85.5 from 85.5.