Business

Consumer morale index drops to 67.3 this month

Turkey’s consumer confidence posted a 7.3 percent decrease in April, according to data released by the Turkish Statistical Institute (TÜİK) on April 21.

From 72.5 in March, the consumer confidence index fell to 67.3 this month, official data showed.

All sub-indices posted a decrease with “the financial situation of households at present” slipping the most at 9.8 percent.
The index for “assessment of spending money on durable goods over the next 12 months” also went down by 4.9 percent to 88.8.

“The financial situation expectation of households over the next 12 months” diminished by 8.5 percent to 49.1,while “the general economic situation expectation index” went down by 7.2 percent to 67.3.

In monthly consumer tendency survey, consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies are measured.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.

The index is a vital gauge of the economy’s overall situation, indicating people’s sentiments on the economic situation.

Source
hurriyetdailynews

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