Consumer confidence reaches highest level since May 2023

ISTANBUL  

Türkiye’s consumer confidence index rose 2.5 percent month-on-month in June, reaching 87.9 from 85.8 in May, according to data calculated from the Consumer Tendency Survey conducted jointly by the Turkish Statistical Institute (TÜİK) and the Central Bank on June 22.

The latest reading marked the highest level since May 2023, when the index stood at 91.1.
It indicates an optimistic outlook when the index is above 100.

The index measuring households’ current financial situation increased by 4.5 percent in June, rising from 69.2 to 72.3.

Consumers’ expectations regarding their household financial situation over the next 12 months also improved. The corresponding index rose 1.9 percent from 87.9 in May to 89.5 in June.

The index reflecting expectations for the general economic situation over the next 12 months climbed 3.1 percent, reaching 83.9 in June, compared with 81.4 a month earlier.

Meanwhile, the index measuring consumers’ intention to spend on durable goods over the next 12 months increased 1.4 percent from 104.5 in May to 105.9 in June.