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Consumer confidence index in Turkey sees increase of 1.4 percent in April
(MENAFN) According to the latest official data released on Monday by the Turkish Statistical Institute (TurkStat), consumer confidence in Turkey experienced a notable increase of 1.4 percent on a monthly basis in April. The consumer confidence index, which serves as a crucial indicator for gauging the overall economic sentiment in the country, rose to 80.5 this month, marking an improvement from its previous reading of 79.4 in March.
Examining the sub-indices contributing to the overall consumer confidence figure, there were mixed trends observed. The sub-index reflecting the current financial situation of households and their assessment of spending on durable goods over the next 12 months both experienced declines of 2.3 percent and 1.2 percent, respectively. However, there was a notable uptick of 5 percent month-on-month in the index pertaining to the financial situation expectations of households over the next 12 months, reaching a value of 82.9.
The general economic situation expectation index over the next 12 months also saw a significant increase, rising by 4.4 percent on a monthly basis to reach a value of 78.1. These figures collectively indicate a complex landscape of consumer sentiment, with some aspects showing improvement while others exhibit a degree of caution or concern.
The consumer confidence index is derived from survey data and is assessed within a range of 0 to 200. A reading above 100 typically indicates an optimistic outlook, whereas a reading below 100 is often interpreted as a sign of pessimism. The nuanced variations within the sub-indices provide insights into the multifaceted nature of consumer sentiment and its implications for the broader economic landscape in Turkey.
Examining the sub-indices contributing to the overall consumer confidence figure, there were mixed trends observed. The sub-index reflecting the current financial situation of households and their assessment of spending on durable goods over the next 12 months both experienced declines of 2.3 percent and 1.2 percent, respectively. However, there was a notable uptick of 5 percent month-on-month in the index pertaining to the financial situation expectations of households over the next 12 months, reaching a value of 82.9.
The general economic situation expectation index over the next 12 months also saw a significant increase, rising by 4.4 percent on a monthly basis to reach a value of 78.1. These figures collectively indicate a complex landscape of consumer sentiment, with some aspects showing improvement while others exhibit a degree of caution or concern.
The consumer confidence index is derived from survey data and is assessed within a range of 0 to 200. A reading above 100 typically indicates an optimistic outlook, whereas a reading below 100 is often interpreted as a sign of pessimism. The nuanced variations within the sub-indices provide insights into the multifaceted nature of consumer sentiment and its implications for the broader economic landscape in Turkey.
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