Türkiye’s consumer and business confidence rise in August

ISTANBUL

Both consumer and business confidence indicators in Türkiye have risen in August, separate data showed on Aug. 21.

The consumer confidence index increased by 1 percent month-on-month to 90.8 in August, up from 89.8 in July, the Turkish Statistical Institute (TÜİK) announced on Friday.

The sub-index for the financial situation expectation of household over the next 12 months recorded a 1.9 percent increase, reaching 93.1.

Consumers reported a better financial situation at present, as this sub-index climbed 1.2 percent to 75.4 during the same period.

The expectation for the general economic situation over the next 12 months also improved, moving up 1.2 percent to 89.4.

An index value above 100 points to an optimistic outlook, while a figure below that threshold indicates pessimism.

Separately, the Central Bank announced on Aug. 21 that the seasonally adjusted Real Sector Confidence Index rose by 1.2 points month-on-month to 102.4 in August.

Assessments regarding export orders in the next three months, production volume over the next three months, total orders over the past three months, current stocks of finished goods, fixed capital investment expenditure and current total orders contributed positively to the index.

Assessments of total employment over the next three months also supported the index, while expectations regarding the general business outlook weighed on it.