Consumer confidence is at a 7-month high: Salary hikes boost morale

According to the consumer confidence index data for January announced by the Turkish Statistical Institute (TURKSTAT), the consumer confidence index increased by 3.9 percent on a monthly basis in January and became 80.4.

Accordingly, the seasonally adjusted consumer confidence index, calculated from the results of the “Consumer Tendency Survey” conducted in cooperation with TURKSTAT and the Central Bank of the Republic of Turkey, increased by 3.9 percent in January compared to December 2023.

The index, which was 77.4 last month, was recorded as 80.4 this month. Thus, the index reached the highest level of the last 7 months. The index had seen the level of 85.1 in June 2023.

While the index of the financial situation of the household in the current period was 63.4 last month, it increased by 6 percent to 67.2 in January.

The index of household financial situation expectation for the next 12 months, which was 76.1 in December 2023, increased by 4.5 percent to 79.5 in January.

The general economic situation expectation index for the next 12 months, which was 75.8 last month, gained 1.8 percent and was recorded as 77.2 this month.

The index of the intention to spend on durable consumer goods in the next 12 months, which was 94.5 in December 2023, increased by 3.6 percent in January and was determined as 97.9.