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Turkey’s consumer confidence increases in May despite coronavirus

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Turkey’s consumer confidence index rose to 59.5 points in May, data from the Turkish Statistical Institute showed on Wednesday, climbing from April’s 54.9 — its lowest level since the data were first published in 2004, Reuters reported.

A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.

The coronavirus outbreak has slowed the economy and sapped consumer confidence.

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