Turkish consumer confidence deteriorates in April: Data

ANKARA

Consumer confidence in Türkiye reversed its upward trend in April, according to data released on April 22.

The consumer confidence index decreased 2.3 percent from a month ago to 83.9 points in April, the Turkish Statistical Institute (TÜİK) said.

This followed a 4.6 percent monthly increase in March.

The index indicates an optimistic outlook when it is above the 100-mark.

The sub-index measuring households' current financial situation fell 2.5 percent month-on-month in April, after surging 8.5 percent in March, while expectations for the general economic situation over the next 12 months also declined 2.2 percent, comparing unfavorably with the 6.7 percent increase recorded in the previous month.

The index tracking spending on durable goods over the next 12 months, which was up 2.8 percent in March, saw a 3.8 percent fall during the same period.

The sub-index reflecting household financial situation expectations for the next 12 months decreased 0.5 percent month-on-month after advancing 2 percent in March.

The consumer confidence index serves as a key indicator of the economy's overall health, capturing public sentiment regarding financial conditions, the broader economic outlook and spending and saving intentions.