17 July 2009 / TODAY'S ZAMAN WITH WIRES, İSTANBUL
Consumer confidence in June increased by 2.39 percent over the preceding month, to reach 85.27 percent, showing signs of a nascent recovery in the country's economy amidst the aftershocks of the ongoing global financial earthquake.
According to the monthly Consumer Tendency Survey by the Turkish Statistics Institute (TurkStat), when the index is above 100, it indicates an optimistic consumer outlook; when it is equal to 100, it refers to neither an optimistic nor a pessimistic outlook; and when it is below 100, the index indicates a pessimistic consumer outlook. The index stood at 83.28 percent in May.
The survey cited improvements in consumers' assessments concerning purchasing power in the current and the next quarters, the general economic situation and job opportunities in the next quarter as the most important factors leading to an increase in consumer confidence.
