ANKARA, May 21 (Xinhua) -- Turkish consumers' confidence in the economy declined in May, Turkish Statistical Institute announced on Tuesday.
Data released by the institution showed that consumer confidence index was 55.3 this month, down over eight points compared with the previous month.
Among all sub-indices, general economic situation expectation index decreased by 14.9 percent, and financial situation expectation decreased by 10.1 percent, which resulted in the decline of consumer confidence.
In April, the consumer confidence index rose 6.9 percent to 63.5, reaching the highest point as of this year.
The index, which is calculated through measurement of consumer tendencies, indicates an optimistic outlook when the index is above 100, but shows a pessimistic outlook when it is below 100.
In 2018, the index hovered between 72.7 and 57.6, with the highest in July and the lowest in October.
