Turkish consumers perceive dimmer economy, says Index

ANKARA

Turkey’s consumer confidence index dropped by 1.6 percent in August from the previous month. DHA photo

Turkey’s consumer confidence index dropped to 77.2 percent in August, a fall of 1.6 percent from the previous month, according to new data.

After falling to a four-year-low of 69.3 in October 2012, the index was on an upward trend until this month. In July, the optimism indicator had touched its highest level since March 2012.

The index, prepared by the Central Bank and the Turkish Statistics Institute (TÜİK), indicates an optimistic outlook when higher than 100, but it shows pessimism among consumers when the figure is below 100, as was the situation in Turkey in August.

Meanwhile, one of the sub-indexes, the possibility of saving in next 12 months, deteriorated remarkably, declining 10.4 percent from the previous month.

The index of general economic situation expectations for the next 12 months, which was 105 in July, also dropped by 1.3 percent.

Moreover, the unemployment figures expectation for the next 12 month period rose by 1.2 percent.