Consumer confidence in Türkiye edged up in January, with the index rising 0.3% from the previous month to 83.7 points, according to official data released on Thursday.

The index was up from 83.5 points registered in December, the data from the tendency survey conducted by Turkish Statistical Institute (TurkStat) and Turkish central bank showed, thus showing signs of improvement in the first month of the new year.

The subindex measuring the financial situation of households at present rose 0.4% in January compared with the previous month, while expectations for household financial conditions over the next 12 months declined 2.3%.

Expectations for spending on durable goods over the next 12 months dropped 0.7% every month.

Meanwhile, expectations for the general economic situation over the next year climbed the most, by 4.3% in January.

The consumer confidence index is considered a key indicator of economic sentiment, reflecting households’ views on financial conditions, the broader economy and spending intentions.

The index can take values between 0 and 200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.