Turkish consumer confidence up in June

By Tuba Sahin

ANKARA (AA) - Turkish consumers' confidence in the economy improved in June after having declined for two months in a row, the country's statistical authority announced Tuesday.

The index, jointly calculated by TurkStat and the Central Bank through the measurement of consumer tendencies, hit 81.7 this month, up 5.8% from May.

The consumer confidence index, calculated from survey results, is evaluated within the range of 0-200, indicating optimism when the index is above 100 and pessimism when below.

All sub-indices except the financial situation of household index at present increased month-on-month in June.

The general economic situation expectation index in the next 12 months period rose 9.2%.

The financial situation expectation of households index climbed 8.3% on a monthly basis, suggesting that more people were expecting a better financial situation in the next 12 months.

The index for assessment on spending money on durable goods over the next 12 months increased 5.2% from last month.

The financial situation of the household index at present compared to the past 12 months period posted a slight decrease of 0.8% during the same period.

The monthly survey measures consumers' assessments and expectations on financial standing and general economic situation as well as their expenditure and saving tendencies.

The main reading fell 3.6% in May following a decline of 7.5% in April.