Strong Increase in Consumer Confidence

The consumer confidence index rose by 4.6 percent to 85.9 in March. The Turkish Statistical Institute (TURKSTAT) announced the consumer confidence index data for March. Accordingly, the consumer confidence index, calculated from the results of the Consumer Tendency Survey conducted in collaboration with TURKSTAT and the Central Bank of the Republic of Turkey, increased from 82.1 in February to 85.9 this month, with a 4.6 percent increase. Therefore, the index reached its highest level since May 2023. Thus, the index reached its highest level in 22 months. The index was recorded as 91.1 during that period. During the current period, the household financial situation index rose from 65.6 last month to 70.9 in March, with an 8.2 percent increase. The household financial situation expectation index for the next 12 months, which was 83.1 in February, increased by 2 percent this month to 84.7. The general economic situation expectation index for the next 12 months, which was 79.3 last month, reached 84.6 in March with a 6.7 percent increase. The intention to spend on durable consumer goods index for the next 12 months was calculated as 103.2 this month, with a 2.8 percent increase from 100.3 in February.