Turkey‘s consumer confidence declines in March
The consumer confidence index declined 5.4% on the month to post a reading of 64.39 in March following a reading of 68.06 in the previous month. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.
The index of expectations for the general economic situation for the next 12 months also dropped by 5% month over month to post a reading of 86.30 in March. The lower reading index indicates that the number of consumers who expect a better general economic situation in the next 12 months has decreased compared with the previous month.
The index of financial expectations of households for the next 12 months was down 1.6% to post a reading of 85.37 in March while the index of expectations for the number of unemployed persons in the next 12 months was down 6.3% to a reading of 65.28. The lower reading index suggests that an increasing number of consumers expect higher unemployment figures over the next year.
Meanwhile, the index of the probability of saving in the next 12 months slumped 17.5% month over month to 20.61 in March. This decline means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has decreased.
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