The consumer confidence index climbed to its top in the last 18 months by December, the Turkish Statistical Institute (TurkStat) reported on Friday.
The consumer confidence index increased by 1.9% month-on-month to 81.3 points, reversing a 1% decline from November, according to TurkStat.
Key highlights from the data include:
- Household financial expectations: The sub-index measuring expectations for household financial situations over the next 12 months increased by 4%.
- General economic expectations: Expectations for the general economic situation during the same period rose by 1.6%.
- Durable goods spending: The index tracking spending on durable goods for the next 12 months surged by 4.1%.
- Current financial situation: In contrast, the index reflecting households’ current financial situation dropped by 3.5% compared to November.
The consumer confidence index is a critical indicator of economic performance, capturing public sentiment on financial standing, the overall economic outlook, and spending and saving tendencies.
