Turkish consumer confidence jumps, reversing 5-month decline

Turkey’s consumer confidence index surged in January, completely reversing a decline over the previous five months, the Turkish Statistical Institute (TurkStat) said.

The index jumped to 72.3 from 65.1 in December. It was at the highest level since May last year, when the reading was 72.8, TurkSat said on its website on Tuesday.

Financial expectations of households and general economic expectations improved significantly, while more people saw a decrease in unemployment over the next 12 months, the data showed.

The index, prepared with the central bank, measures confidence within the range of 0-200, with a figure of above 100 indicating an optimistic outlook.

Turkish consumer confidence rises in January