Turkish consumer sentiment jumps 9.2% in April
People are seen at the famous Egyptian Bazaar, also known as the Spice Bazaar, in Eminönü neighborhood, in Istanbul, Türkiye, March 27, 2023. (IHA Photo)


Consumer confidence in Türkiye rose 9.2% to 87.5 points in April, official data showed on Wednesday.

The reading thus resumed an upward trend after a dip to 80.1 points in March and marked a 56-month high, the Anadolu Agency (AA) said, citing Turkish Statistical Institute (TurkStat) data.

The jump in April has been the most robust hike since November 2015.

The data showed a marked improvement in expectations for the general economy and households in the following 12-month period, which rose 14.7% and 12.8%, respectively.

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

The index is an important gauge of the economy's overall performance, indicating people's sentiments on financial standing, the general economic situation, and expenditure and saving tendencies.

A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism, according to the data from the Turkish Statistics Institute.

The survey was conducted in all 81 provinces this month after seven areas impacted by February's massive earthquakes were left out in March.