Turkish consumer confidence down in April

By Aysu Bicer

ANKARA (AA) – Turkiye’s consumer confidence posted a 7.3% decrease in April, according to the latest figures released on Thursday.

From 72.5 in March, the consumer confidence index fell to 67.3 this month, data from the Turkish Statistical Institute (TurkStat) showed.

The index is a vital gauge of the economy’s overall situation, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

All sub-indices posted a decrease with the financial situation of household, at present, slipping the most at 9.8%.

The index for assessment of spending money on durable goods over the next 12 months also went down by 4.9% to 88.8.

The financial situation expectation of households over the next 12 months diminished by 8.5% to 49.1, while the general economic situation expectation index went down by 7.2% to 67.3.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.