Turkish consumer confidence slightly rises in April

ANKARA

Consumer confidence in Turkey slightly increased in April, official data has shown.

The consumer confidence index increased 0.8 percent in April, to 71.9 points, from 71.3 in March, according to data from the Turkish Statistics Institute (TÜİK) released on April 20.

The index, which calculated from the results of the consumer tendency survey carried out in cooperation with TÜİK and the Central Bank, significantly declined to 65.1 in December. The index rose to 72.3 in the first month of 2018.

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

In April, the number of people unemployed expectation index, which is a gauge of the health of the labor market, saw a 1.4 percent, or 2.2-point, increase.

Attitudes on the general economic outlook fell 0.4 percent, down from 95.1 to 94.7 points in April month-on-month.

The financial situation expectation of household index also saw a drop of 0.5 percent, to 90.2 points.

The probability-of-saving index saw the largest improvement among sub-indices, suggesting more and more people expected to save money. That sub-index surged 8.5 percent to 28.2 points.