Turkey’s consumer confidence rises 2.2% in April

Turkey’s consumer confidence climbed 2.2% from a month earlier in April, 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 68.46 in April from a reading of 67 in March. 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 edged up 0.2% in April to 89.97 while the index of expectations for the number of unemployed persons in the next 12 months rose by 1.9% to a reading of 69.11 in April.

The index of expectations for the general economic situation for the next 12 months increased 1.8% on the month to post a reading of 91.02 in April from a reading of 89.41 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 was also up 13.1% month over month to 23.75 in April. 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.