Turkish consumer confidence up 6.1% in August

By Aysu Bicer

ANKARA (AA) - Türkiye's consumer confidence posted a 6.1% rise in August, according to the latest figures released on Tuesday.

From 68 in July, the consumer confidence index increased to 72.2 this month, data from the Turkish Statistical Institute (TurkStat) showed.

The index is a vital gauge of the economy's overall situation, indicating consumer sentiments on financial standings and the general state of the economy, along with expenditure and saving tendencies.

The financial situation of households, at present, went up 16% to 53.8 in August.

The index for the assessment of spending money on durable goods over the next 12 months, meanwhile, went down by 2.4% to 89.8.

The general economic situation expectation index increased the most, by 2.7%, to 72.8, while the financial situation expectation of households over the next 12 months rose 7.5% to 72.2.

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