Turkey Consumer Confidence Highest Since July 2018

(RTTNews) - Households in Turkey remained less pessimistic in September, and the confidence rose further to the highest level in more than eight years, survey data from the Turkish Statistical Institute showed on Tuesday.

The consumer confidence index rose to 91.9 in September from 90.8 in August. Moreover, this was the highest reading since July 2018, when it was 92.9. Nonetheless, a score below 100 indicates a pessimistic outlook.

The financial situation expectation of households over the next year improved, with the corresponding index rising to 93.7 from 93.1. The index measuring the general economic situation over the next twelve months strengthened slightly to 89.8 from 89.4. Meanwhile, the index measuring the financial situation of households at present weakened to 75.3 from 75. 4.

The survey revealed that the sub-index for assessment on spending money on durable goods over the next 12 months is more positive at 108.8 versus 105.1 in August.