The Turkish Statistics Institute (TurkStat) released its monthly consumer tendency report for December yesterday. The report was conducted in cooperation with the Central Bank of Turkey.
According to the report, the consumer confidence index hit 78.79 in December, representing a 0.53 percent increase over November, when the index was 78.38. The index increased for the first time since September, even though the current level still suggests a pessimistic view of the coming 12 months.
When the index is above 100, this is indicative of an optimistic outlook; when it is equal to 100, it refers to neither an optimistic nor a pessimistic outlook; when it is below 100, the outlook is pessimistic.
The report attributed the increase in the consumer confidence index to improvements in consumer assessments concerning their purchasing power in the coming period and favorable conditions for buying durable goods in the current period.
