Turkey's consumer confidence posts fresh declines in August
The consumer confidence index fell to a reading of 62.35 in August following a reading of 64.66 in July. 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 8% on the month to post a reading of 77.60 in August from July’s reading of 84.33. 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 slipped 2.3% in August to 86.17 while the index of expectations for the number of unemployed persons in the next 12 months dropped by 0.6% to a reading of 63.48.
Meanwhile, the index of the probability of saving in the next 12 months edged down 0.2% month over month to 22.16 in August. 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 decreased compared to the previous month.
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