Turkish consumer confidence edges up in March

ANKARA

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Turkey’s consumer confidence index rose to 67 in March from 66.64 in February, the Turkish Statistics Institute said on March 21.

The consumer confidence index, which is calculated using results of a consumer tendency survey carried out in cooperation with TÜİK and the Central Bank, regressed to its lowest level since January 2009 in September 2015, but has subsequently recovered. However, it would need to rise above 100 to indicate optimism. 

The largest improvement among sub-indices was seen in March’s number of people unemployed expectation index. The index saw a 2.5 percent rise compared to the previous month, and became 67.8.        

The financial situation expectation of household also saw a rise of 0.5 points or 0.5 percent from the previous month to reach 89.77 in March.        

However, the sentiment on the country’s economic situation slipped in March by 0.7 percent, as it fell from 90.03 points to 89.41 points in the month.        

The probability of saving index also fell 0.2 percent to 21.01 points.