ANKARA, May 26 (Xinhua) -- The Turkish economic confidence index increased by 1.1 percent to 100.5 points in May, official data showed on Friday.
According to the data released by Turkish Statistical Institute, the latest monthly index hit the highest level since November 2015, turning the outlook of general economic situation to "optimistic."
This increase in economic confidence index stemmed from the increases in consumer, services, retail trade and construction confidence indices, according to the data.
The Consumer Confidence Index increased to 72.8, Services Confidence Index increased to 102, Retail Trade Confidence Index increased to 102.8 and the Construction Confidence Index increased to 86.3 in May, data showed.
Turkish economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations and tendencies about general economic situation.
The index indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it indicates a pessimistic outlook when it is below 100.
