Turkish consumer confidence rebounds in September

ANKARA

After a two-month decline, Turkey’s consumer confidence index bounced back in September, the country’s statistical authority said on Sept. 22. 

The index is a vital gauge of the economy’s overall, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

The index rose 1.8% from the previous month to 79.7 in September, according to TÜİK data.

All sub-indices contributed positively to the rise in the main reading.

The general economic situation expectation index jumped 5.3% on a monthly basis to 79.3 in September.

The financial situation of household sub-index increased 2.2% to 62.6 in the same period.

The financial situation expectation index posted a slight rise of 0.5% to 79.0 in September, while the index for assessment on spending money on durable goods remained stable at 97.7.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.