Turkish consumer confidence up in June

ANKARA (AA) - Turkey’s consumer confidence index was up 1 percent in June from the previous month, the state Turkish Statistics Institute (TurkStat) said on Wednesday.

The consumer confidence index, carried out with the Central Bank, rose to 69.43 points in June from 68.75 in May, up 1 percent or 0.68 points, according to TurkStat.

The agency said that all sub-indices of the reading saw substantial improvements from the previous month except for the general economic situation expectations index.

The financial situation expectations of household index was 91.21 compared to 89.94 the previous month, up 1.4 percent.

The probability of saving was up sharply, 9.9 percent to 24.55 in June from 22.35 in May, suggesting that more and more people feel optimistic about being able to save money in the coming months.

The number of people unemployed expectations index, a gauge of sentiment about the health of the labor market, also saw an improvement of 2.4 percent from the previous month to 70.64 points.

The sole setback among sub-indices was seen in June’s general economic situation expectations index, slipping 2.4 percent from the previous month to 91.32 points.