Turkish consumer confidence soars in April

By Tuba Sahin

ANKARA

Confidence in the Turkish economy has soared in April, the Turkish Statistical Institute (TurkStat) reported on Friday.

The consumer confidence index increased 0.8 percent in April, to 71.9 points, from 71.3 in March, according to the report.

The probability-of-saving index saw the largest improvement among sub-indices, suggesting more and more people expected to save money. The sub-index surged 8.5 percent to 28.2 points.

The number of people unemployed expectation index, which is a gauge of the health of the labor market, saw a 1.4 percent, or 2.2-point, increase.

Attitudes over the general economic outlook fell 0.4 percent, down from 95.1 to 94.7 points in April month-on-month.

The financial situation expectation of household index also saw a drop of 0.5 percent, to 90.2 points.