Türkiye's consumer confidence rose for the fifth consecutive month in November, reaching its highest level in just over a year, according to latest official figures released on Tuesday.
The consumer confidence index rose to 76.6 this month, up 0.6% from 76.2 in October, the Turkish Statistical Institute (TurkStat) said in a statement.
The latest reading was the highest since October last year, when it was 76.8.
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.
November's increase was driven by the sub-indices for general economic situation expectations over the next 12 months and the financial situation of households at present, which gained 3.4% and 1.5%, respectively, from a month ago.
On the other hand, the index for the assessment of spending money on durable goods over the next 12 months fell 1.2% and the financial situation expectation of households over the next 12 months decreased by 0.5% in November.
The consumer confidence index is calculated from survey results and 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.
