April sees 9.2 percent surge in Turkish consumer sentiment

Consumer sentiment in Turkey rose 9.2% to 87.5 points in April, official data showed on Wednesday.

The reading thus resumed an upward trend after a dip to 80.1 points in March and marked a 56-month high, the Anadolu Agency (AA) said, citing Turkish Statistical Institute (TurkStat) data.

The jump in April has been the most robust hike since November 2015.

The data showed a marked improvement in expectations for the general economy and households in the following 12-month period, which rose 14.7% and 12.8%, respectively.

The financial situation index of households at present rose 4.6% from a month earlier, while the assessment on spending money on durable goods over the next 12 months was up 4.5%.

The index is an important gauge of the economy’s overall performance, indicating people’s sentiments on financial standing, the general economic situation, and expenditure and saving tendencies.

A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism, according to the data from the Turkish Statistics Institute.