Turkish consumer confidence rose in January, according to the country’s statistical authority.

The consumer confidence index decreased to 73.2 this month, up 6.2% from 68.9 in December 2021, TurkStat said in a statement, AA (Anadolu Agency) reports. 

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.

All sub-indices deteriorated in the month with the financial situation expectation over the next 12 months weakening the most.

The financial situation of household index at present compared with last year went up 3.6% to 56.1 in the month.

The general economic situation expectation index in the next 12-month period increased 11.8% month-on-month to 74.5 in January.

Assessment on spending money on durable goods index over the next 12 months compared to the past 12-month period which was 89.6 in December rose by 1.4% and became 90.9 in the month.

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 100.​​​​​​​