Consumer confidence rises 9 percent

ANKARA

The consumer confidence index has advanced by 9.2 percent on a monthly basis, rising from 80.1 in March to 87.5 in April, the Turkish Statistical Institute (TÜİK) has reported

Any index figure above the 100-mark indicates optimism among consumers.

The headline consumer sentiment index was down 2.9 percent month-on-month in March.

The consumer confidence index was 67.3 April last year and 80.2 in the same month two years ago.

The sub-index, which measures households’ assessment of their current financial situation, which inched up 0.8 on a monthly basis in March, advanced by 4.6 percent this month.

The data TÜİK released on April 19, also showed that households’ expectations regarding their financial situation over the next 12 months improved 12.8 percent in April after plunging 5.5 percent in the previous month.

According to TÜİK’s regular survey, consumers appeared to be more optimistic about the general economic outlook in the next 12 months.

The sub-index measuring households’ expectations regarding the overall economic outlook ahead soared 14.7 percent month-on-month, which compared favorably with the 3.3 percent decline in the index in March.

More consumers think in April that the current general economic condition improved compared to the past 12 months. The related sub-index increased by 7.5 percent after declining 0.5 percent last month.

TÜİK said that that the Consumer Tendency Survey was carried out in all 81 provinces in Türkiye, including the provinces which were hit by the earthquakes in early February.