Consumer morale further improves, hitting 22-month high

ANKARA

Consumer morale improved for a second month in a row in March, reaching a 22-month high, data from the Turkish Statistical Institute (TÜİK) has shown.

The consumer confidence index advanced 4.6 percent month-on-month after rising 1.6 percent in February.

The index climbed to 85.9 in March, the statistics authority said. This marked the highest level of the confidence index since May 2023, when it stood at 91.1.

The index indicates an optimistic outlook when it is above 100, but it indicates a pessimistic outlook when it is below 100.

All major sub-indices showed strong improvement in March.

The index of the current financial situation of households, which rose by 1.1 percent monthly in February, surged 8.2 percent.

Households’ general economic situation expectations over the next 12 months increased 6.7 percent in March, accelerating from the paltry 0.3 percent rise recorded in the previous month.

The monthly increase in the index assessing the possibility of households spending money on durable goods over the next 12 months quickened from 1 percent to 2.8 percent.

The index of financial situation expectation of households over the next 12 months rose by 2 percent in March, slowing from 3.1 percent in February.