Turkey’s consumer confidence rose in December after four straight months of declines, according to a monthly survey conducted by local financial news channel BloombergHT.
Confidence among Turkish consumers increased to 68.9 points from 61.5 points in November, BloombergHT said on Wednesday. That was the highest level since September. Confidence had reached a peak for the year of 89.9 points in July.
The improvement in consumer sentiment comes after the lira strengthened from a record low against the dollar and President Recep Tayyip Erdoğan hired a new treasury and finance minister and replaced the governor of the central bank.
A measure of consumer expectations rose to 82.8 points this month from 74.8 points in November, the biggest increase since June, the survey showed.
A November survey of consumer confidence published by the Turkish Statistical Institute on Nov. 20 showed sentiment worsening to 80.1 points from 81.9 points. The outlook deteriorated for household finances and the economy, the institute said.