Consumer confidence in Türkiye strengthened further in October, continuing an upward momentum to reach the highest value in over a year, official data showed on Wednesday.

The consumer confidence index, calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute (TurkStat) and the Central Bank of the Republic of Türkiye (CBRT), was 78.2 in September and increased by 3.0% in October to 80.6.

The rate marked the highest value of the index since June 2023, when it stood at 85.1, according to the data.

Among subindices, the financial situation expectation of households over the next 12 months saw the highest gain, rising by 6.1% month-over-month in October.

General economic situation expectations over the next 12 months surged by 1.1% on a monthly basis in October while the subindex measuring the financial situation of households at present slipped 0.2% over the same period.

The consumer confidence index can take a value 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.