TR Monitor



The consumer confidence index was down by 2.9% from 82.5 to 80.1 in March, compared to the previous month, according to the Turkish Statistica­l Institute (TurkStat). The financial situation expectatio­n of households over the next 12 months declined by 5.5% from 84.2 to 79.6, while the general economic situation expectatio­n index over the next 12 months decreased by 3.3% from 85.8 to 83.0 in this period. The index for the assessment of spending money on durable goods over the next 12 months, meanwhile, went down by 2.7% from 94.5 to 92.0 in the same period. The consumer tendency survey wasn’t conducted in Adiyaman, Gaziantep, Hatay, Kahramanma­ras, Kilis, Malatya, and Osmaniye, which were hit by twin quakes on February 6. The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the reading is above 100 and a pessimisti­c one when it is below.

The unemployme­nt rate declined by 1.6 points to 10.4% in 2022, compared to the previous year, according to the Turkish Statistica­l Institute (TurkStat). The number of unemployed people aged 15 and over decreased by 337,000 to 3.58 million in the same period. The seasonally adjusted unemployme­nt rate stood at 9.7% last year. The employment rate rose by 2.3 percentage points to 47.5% in 2022, as compared to 2021. The number of employed people surged by 1.95 million to 30.75 million in the same period. The labor force participat­ion rate increased by 1.7 points to 53.1% year-over-year in 2022. Some 34.33 million people made up the labor force in 2022, a hike of 1.61 million workers from the previous year.

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