The Turkish Statistics Institute (TurkStat) released its monthly consumer behaviors report for January yesterday. According to the report, which was prepared in cooperation with the Central Bank of Turkey, the consumer confidence index hit 79.24 in January, representing a 0.45-point increase over December, when the index was 78.79. The index had shown signs of a nascent recovery in December, for the first time since September.
When the index is above 100, consumers’ outlook is optimistic; when it is equal to 100, it is neither optimistic nor pessimistic; and when it is below 100, consumers’ 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, the general economic outlook and job opportunities in the next quarter.
