Consumer confidence index at seven-month high

The consumer confidence index published by the Turkish Statistical Institute (TurkStat) increased by 3.9 percent in January and reached 80.4. The Consumer Confidence Index continued to rise in the first month of the year. The consumer confidence index reached 80.40 in January. Thus, the index reached its highest level since June. The index was recorded as 77.4 in December. The Bloomberg HT Preliminary Consumer Confidence Index had signaled a decline for January. The Bloomberg HT Preliminary Consumer Confidence Index decreased by 6.14 percent in January compared to the final index of the previous month and became 68.09. When the details of the Bloomberg HT Preliminary Consumer Confidence Index were examined, it was observed that both the perception of the current situation and the expectations of the consumer for the future had declined. The main reasons for the decline were the increasing geopolitical tension, the stress experienced in financial markets, the downward movements in growth expectations and the decreasing consumption trend after the beginning of the year due to seasonal effects.