ISTANBUL — Türkiye’s consumer confidence index rose 1% month-on-month in August to 90.8, reaching its highest level since May 2023, according to data released by the Turkish Statistical Institute (TÜİK).

The index stood at 89.8 in July. The latest reading marks its strongest level since May 2023, when it reached 91.1.

The survey, conducted jointly by TÜİK and the Central Bank of the Republic of Türkiye (CBRT), showed improvements across most major components.

The current financial situation of households index increased 1.2% from 74.5 to 75.4 in August. Meanwhile, the expectation for households’ financial situation over the next 12 months rose 1.9% from 91.4 to 93.1.

The expectation for the general economic situation over the next 12 months also improved, rising 1.2% from 88.3 to 89.4.

The index measuring consumers’ intention to spend on durable goods over the next 12 months remained unchanged at 105.1.

Real Sector Confidence Remains Largely Stable

Meanwhile, data from the CBRT’s Business Tendency Survey indicated a relatively stable trend in real-sector confidence.

The seasonally adjusted Real Sector Confidence Index (RSCI) increased by 1.2 points in August to 102.4, while the unadjusted index rose 0.6 points to 102.8.

Positive expectations regarding export orders, production volumes, fixed capital investment spending and total employment over the next three months supported the index. However, assessments of the overall business outlook limited the increase.

The capacity utilization rate in the manufacturing sector edged lower. The seasonally adjusted rate fell 0.3 percentage points to 73.5%, while the unadjusted rate declined 0.4 points to the same level.

Overall, the August data point to improving consumer sentiment, while confidence among manufacturers remained comparatively stable.

Source: Patronlar Dünyası/ Prepared by: İlayda Gök