Confidence in the Turkish economy has soared in January, the Turkish Statistical Institute, TurkStat, reported on Tuesday, Anadolu Agency reported. The consumer confidence index jumped 11.1% in January, to 72.3, from 65.1 in December, according to the report. Official data showed that the downward trend in consumer confidence that started in August 2017 ceased in January 2018. The probability-of-saving index saw the largest improvement among sub-indices, suggesting more and more people expected to save money. The sub-index surged almost 50% to 26.2 points. Attitudes over the general economic outlook rose 9.7%, jumping from 87.5 to 96.1 points in January month-on-month. Meanwhile, the number of people unemployed expectation index, which is a gauge of the health of labor market, saw a 7.7%, or 5.4-point, advance. In line with these increases, the financial situation expectation of household index also saw a rise of 7.3%, to reach 91.1 points.
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