Turkish consumer confidence back to rising in August

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's consumer confidence in August reversed the previous month's decline, rising to 84.3 points, according to official data released on Thursday.

The consumer confidence index gained 0.9% or 0.8 points from a month ago in August, the Turkish Statistical Institute (TurkStat) said.

This followed a 1.6-point monthly decline in July, when the index was at 83.5 points.

The sub-index measuring households' current financial situation was up 2.6% in August from a month ago, while household financial situation expectations for the next 12 months fell 0.9%.

The expectations for the general economic situation for the next 12 months declined 0.7% in the same period.

Meanwhile, the index tracking spending on durable goods over the next 12 months climbed 2.5% month-on-month in August.

The consumer confidence index serves as a key indicator of the economy's overall health, capturing public sentiment regarding financial conditions, the broader economic outlook, and spending and saving intentions.