Turkey: Consumer confidence down in April

By Aysu Bicer

ANKARA (AA) - Consumer confidence in the Turkish economy posted a fall in April, the country's statistical authority announced on Thursday.

The consumer confidence index stood at 80.2 this month, down 7.5% from 86.7 in March, the Turkish Statistical Institute (TurkStat) said.

The index value is jointly calculated by TurkStat and the Central Bank through measuring consumer tendencies.

The consumer confidence index is 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.

Among sub-indices, the current financial situation of household index, compared to the last 12 months, dropped 4.9% to 64 in April, versus 67.3 in March.

The financial situation expectation of household index in the next 12 months reached 81, falling 7.9% month-on-month.

The general economic situation expectation index in the next 12 months stood at 82.9 in the month, down 11.9% on a monthly basis.

Assessment on spending money on the durable goods index over the next 12 months, compared to the previous 12 months, fell 4.7% to 92.8 in April from 97.4 in March.