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Financial News: Turkey Consumer Confidence At 7-Month High

Turkey Consumer Confidence At 7-Month High

01/23/2024 - 05:25:00 (RTTNews)

(RTTNews) - Consumer confidence in Turkey rose for the fifth consecutive month in January, reaching its highest level in seven months, figures from the consumer tendency survey carried out by Turkstat and the central bank showed on Tuesday.

The seasonally adjusted consumer confidence index improved to 80.4 in January from 77.4 in December.

The latest reading was the highest since June 2023, when it was 85.1. However, any reading below 100 indicates pessimistic outlook.

The indicator reflecting the assessment of the current financial situation of households rose to 67.2 in January from 63.4 in November.

Similarly, the index measuring their own financial situation expectations over the next twelve months strengthened to 79.5 from 76.1.

Consumers' views about the future general economic situation improved to 77.2 from 75.8.

Consumers were more optimistic about spending money on durable goods over the next twelve months, as the respective index climbed to 97.9 in January from 94.5 in the prior month.

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