After a two-month decline, Turkey’s consumer confidence index bounced back in September, the country’s statistical authority said.
The index is a vital gauge of the economy’s overall, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies, AA (Anadolu Agency) reports.
The index rose 1.8% from the previous month to 79.7 in September, according to TurkStat data.
All sub-indices contributed positively to the rise in the main reading.
The general economic situation expectation index jumped 5.3% on a monthly basis to 79.3 in September.
The financial situation of household sub-index increased 2.2% to 62.6 in the same period.
The financial situation expectation index posted a slight rise of 0.5% to 79.0 in September, while the index for assessment on spending money on durable goods remained stable at 97.7.
The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.
