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|
|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|
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