Turkish consumer confidence back to rising in August

ANKARA

Türkiye's consumer confidence in August reversed the previous month's decline, rising to 84.3 points, according to official data released on Aug. 21.

The consumer confidence index gained 0.9 percent or 0.8 points from a month ago in August, the Turkish Statistical Institute (TÜİK) said.

This followed a 1.6-point monthly decline in July, when the index was at 83.5 points.

The consumer confidence index ranges from 0 to 200. A reading above 100 reflects an optimistic outlook, while a value below 100 signals pessimism.

In August, the sub-index measuring households' current financial situation rose by 2.6 percent month-on-month, following a 1.6 percent decline in July. Expectations regarding households’ financial situation over the next 12 months, which dropped by 1.4 percent in July, fell by a further 0.9 percent in August.

Expectations for the general economic situation over the next 12 months declined by 0.7 percent in August, a more moderate decrease compared to the 4.2 percent drop recorded in July.

Meanwhile, the index tracking planned spending on durable goods over the next 12 months increased by 2.5 percent in August, rebounding from a 0.3 percent decline in the previous month.

The consumer confidence index serves as a key indicator of the economy's overall health, capturing public sentiment regarding financial conditions, the broader economic outlook, as well as spending and saving intentions.