Türkiye's consumer confidence at 18-month high in December

By Tuba Ongun

Turkish consumer confidence improved to an 18-month high in December, according to data released on Friday.

The consumer confidence index rose 1.9% month-on-month to 81.3 points in December, reversing the 1% decline from November, the Turkish Statistical Institute (TurkStat) said.

The sub-index measuring household financial situation expectations for the next 12 months rose 4%, while expectations for the general economic situation over the same period climbed 1.6%.

The index tracking spending on durable goods over the next 12 months surged 4.1% during the same period.

In contrast, the index for households' current financial situation dropped 3.5% from November.

The consumer confidence index is a gauge of the economy's overall performance, reflecting public sentiment on financial standing, the general economic situation, and spending and saving tendencies.