Consumer confidence in Türkiye reaches highest level in 18 months in December
Date
12/22/2024 3:17:59 AM
(MENAFN) Turkish consumer confidence reached an 18-month high in December, as reported by the Turkish Statistical Institute (TurkStat) on Friday. The consumer confidence index saw a 1.9 percent increase from November, rising to 81.3 points. This improvement reversed the 1 percent decline observed in November, reflecting a positive shift in public sentiment regarding the economy.
The report highlighted several key sub-indices contributing to the overall improvement in consumer confidence. Notably, the sub-index measuring household financial expectations for the next 12 months rose by 4 percent, signaling increased optimism about personal finances. Similarly, expectations for the general economic situation also grew by 1.6 percent, indicating that consumers are more hopeful about the broader economic outlook in the coming year.
In addition, the index tracking consumer spending on durable goods over the next 12 months saw a significant surge, rising by 4.1 percent. This suggests that people are more willing to make purchases on long-lasting goods, reflecting increased confidence in their financial stability.
However, not all areas saw positive growth. The sub-index measuring households' current financial situation dropped by 3.5 percent compared to November, suggesting that while future expectations are improving, there are still concerns about the present economic conditions. Despite this, the overall consumer confidence index remains a useful indicator of the economy's performance, as it reflects public attitudes toward finances, economic prospects, and spending habits.
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