Turkey’s consumer confidence slightly rises in June to 70.3

ANKARA

Turkey’s consumer confidence index slightly increased month-on-month in June, rising 0.6 percent, the Turkish Statistical Institute (TÜİK) announced on June 21.

The consumer confidence index increased to 70.3, up from 69.9 in May, TÜİK said in a statement.

The index, which is calculated through cooperation between TÜİK and the Central Bank, slipped to the lowest of 2017 in December, to 65.1. In the following month, January 2018, the index sharply rose to 72.33.

While the index was 71.95 in average in the first four months of the year, it regressed to 69.9 in May.

The index indicates an optimistic outlook when the index is above 100 and a pessimistic outlook when it is below 100.

All sub-indices, except the probability of saving index, increased on a monthly basis in June, the data showed.

The household financial situation expectation index increased by 0.1 percent compared to the previous month to reach 89.1 in June, according to TÜİK.

The general economic situation expectation index, which was 90.8 in May, increased by 1.4 percent to reach 92.1 in June.

TÜİK added that the number of people unemployed expectation index increased by 3.4 percent compared to the previous month, to reach 75.4.

The probability of saving index, which was 26.8 in May, decreased by 8.2 percent and became 24.6 in June.

This decline resulted from the decrease of consumers who expressed probability of saving for the next 12 months period, it said.