Households in Türkiye were less pessimistic in June as the consumer confidence rose to the highest level in just over three years, official data showed on Monday.

The consumer confidence index rose to 87.9 in June from 85.8 in May, according to the Turkish Statistical Institute (TurkStat).

Moreover, this was the highest reading since May 2023. Nonetheless, a score below 100 indicates a pessimistic outlook.

The financial situation expectation of households over the next year improved, with the corresponding index rising to 89.5 from 87.9. Similarly, the index measuring the general economic situation over the next twelve months improved to 83.9 from 81.4. The index measuring the financial situation of households at present increased to 72.3 from 69.2.

The survey revealed that the sub-index for assessment on spending money on durable goods over the next 12 months remained more positive and strengthened to 105.9 from 104.5.