Türkiye’s consumer confidence improves marginally in March

Consumer confidence in Türkiye improved marginally in March compared to the previous month, according to a survey by the country’s statistical authority and central bank on Wednesday.

The consumer confidence index stood at 79.4 in March versus 79.3 in February, according to the results of the consumer tendency survey, which was carried out in cooperation with the Turkish Statistical Institute (TurkStat) and the Central Bank of the Republic of Türkiye (CBRT).

The indicator reflecting the assessment of households’ current financial situation dropped to 66.6 in March from 67.1 in February.

Meanwhile, the index measuring their financial situation expectations over the next 12 months strengthened to 78.9 from 78.2.

Consumers’ views about the future general economic situation rose somewhat to 74.9 from 74.6.

Consumers were pessimistic about spending money on durable goods over the next 12 months, as the respective index dropped to 97.0 in March from 97.5 in the prior month.

Calculated from the monthly survey, results are evaluated within a range of 0-200. Confidence indexes above 100 signal an optimistic outlook, and a pessimistic outlook when below 100.