Turkey’s consumer confidence index rises in Jan

Turkey’s consumer confidence index rose by 5.6% from a month earlier in January, according to a Consumer Tendency Survey carried out by the Turkish Statistical Institute in cooperation with the Central Bank of the Republic of Turkey.

The consumer confidence index increased to a reading of 66.9 in January from a reading of 63.4 in December. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.

The index of financial expectations of households for the next 12 months was up by 2.9% in January and became 87.9 while the index of expectations for the number of unemployed persons in the next 12 months was up by 5.4% to a reading of 68.9 in January.

The index of expectations for the general economic situation for the next 12 months increased by 3% on the month to post a reading of 88.6 in January from a reading of 86 in the previous month. The higher reading indicates that the number of consumers who expect a better general economic situation in the next 12 months has increased compared with the previous month.

Meanwhile, the index of the probability of saving in the next 12 months climbed by 34% month over month to 22.4 in January from 16.7 in December. This increase means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has increased compared to the previous month.