Türkiye's consumer confidence index rises 2.4 percent in September
Date
9/22/2024 4:18:35 AM
(MENAFN) Türkiye's consumer confidence index rose by 2.4 percent in September, reaching a value of 78.2 compared to the previous month, according to the Turkish Statistical Institute (TurkStat) on Friday. This increase suggests a modest improvement in consumer sentiment, reflecting a gradual recovery in confidence despite ongoing economic challenges that the country faces.
Among the various sub-indexes, the expectation regarding the general economic situation over the next 12 months experienced the most notable increase, rising by 4.2 percent. This uptick indicates that consumers are becoming more optimistic about future economic prospects, which could potentially lead to increased spending and investment.
In addition to overall economic expectations, the index measuring the current financial situation of households also showed improvement, with an increase of 2.8 percent. Consumers are also displaying a more favorable outlook towards spending on durable goods in the coming year, as evidenced by a 2 percent rise in that particular index. Furthermore, the expectation regarding households' financial situation over the next 12 months saw a slight increase of 1 percent, contributing to the overall positive trend.
The consumer confidence index operates on a scale ranging from 0 to 200, where a score above 100 signifies optimism and a score below 100 reflects pessimism. With the current index standing at 78.2, it remains below the neutral mark, indicating that while there is a positive shift in sentiment, consumers continue to exercise caution regarding their financial decisions and economic outlook. This cautious optimism could be a sign of resilience as consumers navigate the complexities of the economic landscape.
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