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Turkey’s consumer confidence index falls 3.5 % in July

by ChemOrbis Editorial Team - content@chemorbis.com
  • 21/07/2016 (13:59)
Turkey’s consumer confidence slid 3.5% from a month earlier in July, according to a Consumer Tendency Survey carried out by the Turkish Statistical Institute in cooperation with the Central Bank of the Republic of Turkey.

The consumer confidence index fell to a reading of 67.03 in July from a reading of 69.43 in June. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.

The index of financial expectations of households for the next 12 months declined 3.1% in July and became 88.36 compared with 91.21 in June while the index of expectations for the number of unemployed persons in the next 12 months was down 3.3% to a reading of 68.31 in July.

The index of expectations for the general economic situation for the next 12 months fell 1.6% on the month to post a reading of 89.82 in July from a reading of 91.32 in the previous month. The lower reading 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.

Meanwhile, the index of the probability of saving in the next 12 months dipped 11.9% month over month to 21.62 in July. This decrease means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has declined compared to the previous month.
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