Macro and Politics

*TURKSTAT will release April Consumer Confidence Index @ 10:00 local time. The Consumer Confidence Index increased further to 85.9 in March, up from 82.1, marking the highest level since May 2023. Accordingly, after averaging 80.6 in 4Q24, the index has materialized at an average level of 83 in 1Q25. Following weak signals of economic activity reflected in January’s leading indicators, the February data pointed to a renewed recovery. In March, the accelerating uptrend in consumer confidence signaled a continued improvement in activity. In the coming period, close attention will be paid to how recent idiosyncratic issues and heightened market volatility since last week have influenced the leading indicators for April. As per the sub-categories of the March data, the index related to the financial situation of households at present increased from 65.6 to 70.9, while the general economic situation expectation index over the next 12-month period edged up from 79.3 to 84.6. Moreover, the financial situation expectations of households over the next 12 months index climbed from 83.1 to 84.7 level. Lastly, the sub-index related to the assessment on spending money on durable goods over the next 12 months compared to the past 12 months period, which is an important leading indicator in terms of domestic demand, increased from 100.3 to 103.2.