Turkish consumer confidence index up in June

ISTANBUL

The consumer confidence index in Turkey posted a monthly increase in June, the country's statistical authority announced Monday.

The consumer confidence index reached 62.6 this month, up 5.2% from May when the figure was 59.5, the Turkish Statistical Institute (TurkStat) said.

All sub indices increased in June on a monthly basis.

The index of expectation for the number of unemployed persons posted the largest increase with 12.2% to 62.1 in June.

The probability of saving index, which tracks the tendency to save money over the next 12 months, was up 6.5% to reach 23.1.

The general economic situation expectation index went up 4.5% to 85.5 and the financial situation expectation of household index rose 0.8% to 79.9.

Consumers' assessments and expectations in nearly 20 economic and financial categories are measured in monthly tendency surveys.

The index value is jointly calculated by TurkStat and the Central Bank of Turkey through the measurement of consumer tendencies.

The consumer confidence index calculated from the survey results is evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100, and a pessimistic one when it is below.

Mustafa Varank, minister of technology and industry, said on Twitter that the country would consolidate its gains to make them stronger and more long-lasting.

Turkey will accelerate its economic recovery in the last two quarters of the year, added Varank.