Consumer confidence continues to decline
ANKARA
Consumer confidence in Türkiye continued to decline in July, according to a survey conducted jointly by the Central Bank and the Turkish Statistical Institute (TÜİK).
The headline consumer confidence index fell for the second month in a row to 80.1. The gauge for consumer morale was down 5.9 percent from the prior month, which followed the 6.5 percent month-on-month drop in the index in June.
Any index figure above the 100-mark indicates optimism among consumers. Three out of the four main sub-indices were down in July, the consumer tendency survey showed.
The sub-index, which measures households’ assessment of their current financial situation, was down 6.6 percent after falling 2.2 percent last month.
The data TÜİK released on July 20 also showed that households’ expectations regarding the general economic situation over the next 12 months further deteriorated, with the monthly decline in the respective sub-index quickening from 7.8 percent in June to 11.3 percent in July.
The index measuring households’ financial expectations in the next 12 months, which was down 8.8 percent last month, fell 7.7 percent.
Only the index for the probability of consumers buying durable consumer goods in the next 12 months advanced 1.5 percent month-on-month, after declining 6.2 percent in June.
