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Turkish consumer confidence index down in July

Turkish consumer confidence index down in July
Index posts monthly decline of 2.7% in July, hitting 79.5, official data shows

By Yunus Girgin

ANKARA (AA) - Turkish consumers' confidence in the country's economy fell on a monthly basis to 79.5 in July, Turkey's statistical authority said on Monday.

July's confidence index, jointly calculated by TurkStat and the Central Bank through the measurement of consumer tendencies, decreased 2.7% compared to the previous month, down from 81.7.

The consumer confidence index, calculated from survey results, is evaluated within the range of 0-200, indicating optimism when the index is above 100 and pessimism when below.

All sub-indices except the assessment on spending money on durable goods index decreased month-on-month in July.

The financial situation expectation of households index was down by 3.8%, suggesting that fewer people were expecting a better financial situation in the next 12 months.

The general economic situation expectation over the coming 12 months decreased 3.3% month-on-month in July.

The financial situation of the household index at present compared to the past 12 months struggled the most, slipping 5.1% during the same period.

However, the index for assessment on spending money on durable goods over the next 12 months posted a slight increase of 0.1% from last month.

The monthly survey measures consumers' assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies.

source: News Feed
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