Consumer confidence index rises 2.2 percent in July

ANKARA

Türkiye’s consumer confidence index rose 2.2 percent month-on-month to 89.8 in July, the Turkish Statistical Institute (TÜİK) said on July 23.

The confidence indicator reached its highest level since May 2023, when it stood at 91.1.

The index signals an optimistic outlook when it is above 100 and a pessimistic outlook when it remains below that level.

The household financial situation index for the current period increased 3 percent month-on-month, rising from 72.3 in June to 74.5 in July.

The index measuring expectations for households’ financial situation over the next 12 months climbed 2 percent to 91.4 in July from 89.5 in June.

Meanwhile, the index gauging expectations for the general economic situation over the next 12 months rose 5.2 percent to 88.3 in July, up from 83.9 a month earlier.

The index measuring consumers’ willingness to spend on durable goods over the next 12 months, however, declined 0.8 percent to 105.1 in July from 105.9 in June.