Consumer confidence in Türkiye rises slightly in April

ISTANBUL

Türkiye’s Consumer Confidence Index recorded a modest increase in April, rising 0.5 percent on a monthly basis to reach 85.5, according to the Consumer Tendency Survey jointly conducted by the Turkish Statistical Institute (TÜİK) and the Central Bank on April 22. 

The confidence index can take a value between 0 and 200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.

Despite the overall improvement, perceptions of households’ current financial conditions deteriorated. The index measuring households’ present financial situation declined by 1.4 percent month-on-month, after rising 2 percent in March.

In contrast, expectations regarding households’ financial outlook over the next 12 months strengthened. The related index, which fell 1.3 percent in the previous month, increased by 2.1 percent in April.

Expectations for the general economic situation over the next year, however, showed a slight weakening. The index for the future economic outlook dropped by 0.9 percent, marking a slower pace of contraction compared with the 2.9 percent month-on-month decrease recorded in March.”

Meanwhile, consumers’ willingness to spend on durable goods improved. The index reflecting intentions to make purchases of durable consumer goods over the next 12 months rose by 1.7 percent on a monthly basis, after falling 0.5 percent in March.