Türkiye’s consumer sentiment improved slightly in August compared to a month earlier, official data from the country’s statistical office showed on Thursday, rebounding from a decline observed in July.
The consumer confidence index ticked up by 0.6% from last month to 76.4 in August, according to data from the Turkish Statistical Institute (TurkStat).
The figure swung from July’s 3.1% monthly decline, according to the TurkStat.
A sub-index for the present financial situation of the household increased 4.5% month-over-month in August.
Another indicator for expectations concerning the general economic situation over the next 12 months rose 1% this month.
The financial situation expectations of households over the next 12 months advanced 0.9% from July.
The assessment of spending money on durable goods over the next 12 months meanwhile dropped by 2.3% in the same period.
The consumer confidence index is a vital gauge of the economy’s overall performance, indicating public sentiments on financial standing, the general economic situation, and spending and saving tendencies.
The consumer confidence index can take a value between 0 and 200. It indicates an optimistic outlook when the index is above 100 and a pessimistic outlook below 100.
