Turkey's consumer confidence declines in July
The consumer confidence index fell to a reading of 64.66 in July following a reading of 66.45 in the June. 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 declined 5.8% on the month to post a reading of 84.33 in July. The lower reading index indicates that the number of consumers who expect a better general economic situation in the next 12 months has declined compared with the previous month.
The index of financial expectations of households for the next 12 months edged up 0.4% in July to 88.24 while the index of expectations for the number of unemployed persons in the next 12 months slipped by 7.2% to a reading of 63.89.
Meanwhile, the index of the probability of saving in the next 12 months increased 13.7% month over month to 22.20 in July. This increase means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has increased compared to previous month.
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