Turkey’s consumer confidence index increases in July
The consumer confidence index increased to a reading of 71.3 in July from a reading of 70 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 was up by 2.1% in July and became 91.9 and the index of expectations for the number of unemployed persons in the next 12 months rose by 5.2% to a reading of 74.4 in July.
However, the index of expectations for the general economic situation for the next 12 months decreased by 1.6% on the month to post a reading of 95.7 in July from a reading of 97.3 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 was up by 5.8% month over month to 23.3 in July from 22.1 in June. 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 the previous month.
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