Turkish consumer confidence deteriorates in July

By bne IntelliNews July 23, 2015

The consumer confidence index declined 2.7% m/m to 64.66 in July, statistics institute TUIK announced on July 23.

Consumers’ economic situation expectations in the next 12 months improved declined by 5.8% y/y, after improving 4.7% m/m in June. The probability of saving rose 13.7% m/m, after declining 1.3% m/m in June. Consumers are more pessimistic about job prospects in the coming 12 months while they expect that households’ economic situation will slightly improve.

If political uncertainties continue, this will weigh on consumer confidence and may hurt consumer sentiment in the short-term.

TUIK's Consumer Confidence Sub-Indices                  
  Dec-13 Dec-14 Jan Feb Mar Apr May Jun July
Consumer Confidence Index 75.0 67.7 67.7 68.1 64.4 65.4 64.3 66.4 64.7
Financial Situation Expectation of Household 92.4 88.8 87.8 86.8 85.4 86.2 86.2 87.9 88.2
General Economic Situation Expectation 101.9 91.8 91.5 90.9 86.3 86.1 85.5 89.5 84.3
Number of People Unemployed Expectation 81.8 67.3 67.8 69.6 65.3 66.8 65.7 68.9 63.9
The probability of saving 23.8 23.0 23.7 25.0 20.6 22.4 19.8 19.5 22.2
Source: tuik                  
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