Türkiye's consumer confidence up by 4.4% in October

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye's consumer confidence index increased to 74.6 in October, up from 71.5 in September, the country's statistical office said on Monday.

The consumer confidence index hiked 4.4% month-on-month, posting the second consecutive increase after declining three months in a row, the Turkish Statistical Institute (TurkStat) data showed.

Sub-indices for financial situation expectations of households over the next 12 months surged 5.4% and general economic situation expectations over the next 12 months gained 7.2% in September.

Assessments on spending for durable goods over the next 12 months were up by 0.5% from last month.

The index for the present financial situation of households posted a marginal rise of 0.1% in September.

The index is a vital gauge of the economy's overall performance, indicating public sentiments on financial standing and the general economic situation, along with spending and saving tendencies.