Consumer sentiment improved in September after declining in the previous three months, data from the Turkish Statistical Institute (TÜİK) have shown.
The headline consumer confidence index advanced 5.1 percent from August to 71.5, with all of the four main sub-indices rising in September compared with the prior month.
Any index figure above the 100-mark indicates optimism among consumers. The gauge of consumer morale nosedived more than 15 percent month-on-month in August.
The sub-index, which measures households’ assessment of their current financial situation, inched up 0.1 percent in September, after plunging 13 percent last month.
The consumer tendency survey TÜİK released on Sept. 21 also showed that households’ expectations regarding the general economic situation over the next 12 months,which plunged 23.2 percent in August, increased by a strong 7.8 percent.
The index measuring households’ financial expectations in the next 12 months advanced 8.1 percent, which compares with the 19.6 percent decline recorded last month.
The gauge of the probability of households’ spending money on durable consumer goods rose by 4.2 percent in September after dropping 5.7 percent in August, the data also show.