Turkish consumer confidence up in July

General economic situation expectation index over next 12 months rises 15.2% to 70.9

Turkiye’s consumer confidence posted a 7.4% rise in July, according to the latest figures released on Wednesday.

From 63.4 in June, the consumer confidence index increased to 68 this month, data from the Turkish Statistical Institute (TurkStat) showed.

The index is a vital gauge of the economy’s overall situation,indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

The financial situation of household, at present, went up %4.2 to 46.4 in July.

The index for the assessment of spending money on durable goods over the next 12 months went down by 4.9% to 88.8.

The general economic situation expectation index increased the most, by 15.2%, to 70.9, while the financial situation expectation of households over the next 12 months rose 12.2% to 67.2.

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.


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