Turkish Statistical Institute (TÜİK) announced the consumer confidence index data for March. According to the statement, the consumer confidence index, which is calculated from the results of the Consumer Tendency Survey conducted in cooperation with TÜİK and the Central Bank of the Republic of Türkiye, increased by 4.6% to 85.9 in March from 82.1 in February.
With the increase in March, the index surpassed the 85.1 level of June 2023 and reached its highest level since May 2023. At that time, the index was 91.1.
Consumers' assessment of their current financial situation also showed a positive change. The “financial situation of the household” index, which was 65.6 in February, increased by 8.2% to 70.9 in March.
Expectations for the financial situation of the household in the next 12 months also increased. This index, which was 83.1 in February, increased by 2% to 84.7 in March.
Expectations for the general economic situation in the next 12 months showed a larger increase. This index increased by 6.7% from 79.3 in February to 84.6 in March.
Spending on durable goods also strengthened. The index increased by 2.8% to 103.2 in March from 100.3 in February.
According to the results, the rates of change in consumer confidence indices for February and March compared to the previous month increased except for “expectation of household financial situation in the next 12 months”.
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