ISTANBUL, Jan 23 Reuters Turkey39;s consumer confidence index rose 4.6 to 79.1 points in January, official data showed on Monday, increasing again after a month with marked improvements in confidence for households and the economic situation.

The biggest rise in confidence was seen in the current financial situation of households, which rose 7.4 in January from a month earlier to 61.6 points.

The confidence in the general economic situation expectation for the next 12 months rose 7 to 82.7 points, the data showed.

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.

Confidence plunged in 2020 due to fallout from the COVID19 pandemic before a brief rebound. It took another dive in October of 2021 ahead of a currency crisis that set off an inflationary spiral. The index touched a record low of 63.4 in June before beginning to recover.

Reporting by Gdansk newsroom; Writing by Ali Kucukgocmen

Source Reuters