The consumer confidence index rose to 74.4 in a 11.1-percent increase in August, according to data from the Turkish Statistical Institute (TurkStat) and Central Bank of the Republic of Turkey (CBRT). The index hit a nine-month peak.

In more specific terms, the financial situation expectation of household index increased by 6.6 percent compared to the previous month and moved to 94.19 in August. This increase resulted from the increase in the ratio of people expecting a better financial situation in the next 12-month period.

Further, the general economic situation expectation index, which was 89.82 in July, increased by 13.5 percent to 101.95 in August. This increase shows that the number of consumers expecting a better general economic situation in the next 12 months increased compared to the previous month.

The unemployment expectation index rose 12.7 percent compared to the previous month, moving to 77.01 in August. This increase stemmed from the increase in the ratio of people expecting a decrease in the number of unemployed persons in the next 12 months.

The probability of saving index increased by 13.9 percent from 21.62 in July to 24.62 in August. This increase shows that the possibility of consumer savings in the next 12-month period increased from the previous month.