Türkiye's consumer sentiment plunges in June

ANKARA (AA) - Turkish consumer sentiment plummeted to a three-month low in June, the latest official figures released on Monday showed.

The consumer confidence index fell 6.5% month-on-month to 85.1 in June from a nearly five-year high of 91.1 in May, according to data by the Turkish Statistical Institute (TurkStat).

This was the strongest decline since April 2022.

Sub-indices for general economic situation expectations over the next 12 months fell 7.8%, while financial situation expectations of households over the next 12 months declined 8.8%.

The index for the present financial situation of households dropped 2.2% from a month earlier and assessments on spending for durable goods over the next 12 months were down 6.2%.

The index is a vital gauge of the economy's overall performance, indicating public sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.