Business

Turkish consumer confidence grows in March

Consumer confidence index rises from February’s 71.2 to 72.5 this month, official data shows

Turkiye’s consumer confidence posted an increase in March, according to latest figures released on Wednesday.

From 71.2 in February, the consumer confidence index rose to 72.5 this month, data from the Turkish Statistical Institute (TurkStat) showed.

The index is a vital gauge of the economy’s overall, indicating people’s sentiments on financial standing and the general economic situation,along with expenditure and saving tendencies.

Among all sub-indices, the financial situation of household at present was the only to register a drop, slipping by 1.5% to 54.4.

The index for assessment on spending money on durable goods over the next 12 months went up by 4.4% to 93.3.

The financial situation expectation of household over the next 12 months climbed by 2.3% to 69.9, while the general economic situation expectation index increased by 1.2% to 72.6.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.​​​​​​​

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