Türkiye’s consumer sentiment hits nearly 5-year high

ANKARA

The Turkish consumer sentiment surged to a 56-month high in April, showed the latest official figures released on Wednesday.

The consumer confidence index jumped 9.2% month-on-month to 87.5 in April, according to the Turkish Statistical Institute (TurkStat) data.

This has been the strongest hike since November 2015.

The sub-indices for general economic situation expectation over the next 12 months and financial situation expectation of household over the next 12 months soared 14.7% and 12.8%, respectively, in April.

Financial situation of household at present index rose 4.6% from a month earlier while assessment on spending money on durable goods over the next 12 months was up 4.5%.

The index is a vital gauge of the economy’s overall performance, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.