Turkey Consumer Confidence Improves In August

(RTTNews) - Households in Turkey remained less pessimistic in August, and the confidence rose further to the highest level in more than three years, survey data from the Turkish Statistical Institute showed on Friday.

The consumer confidence index rose to 90.8 in August from 89.8 in July. Moreover, this was the highest reading since May 2023, when it was 91.1. Nonetheless, a score below 100 indicates a pessimistic outlook.

The financial situation expectation of households over the next year improved, with the corresponding index rising to 93.1 from 91.4. Similarly, the index measuring the general economic situation over the next twelve months strengthened to 89.4 from 88.3. The index measuring the financial situation of households at present increased to 75.4 from 74.5.

The survey revealed that the sub-index for assessment on spending money on durable goods over the next 12 months is equally positive at 105.1.