Türkiye’s consumer confidence plummets by 3.1% in July

Türkiye’s consumer confidence index fell by 3.1% in July, dropping to 75.9 from 78.3 in June, according to official figures released by the Turkish Statistical Institute (TurkStat) on Tuesday.

This decrease reflects growing concerns about the economic outlook among Turkish consumers.

Key sub-indexes reveal specific declines

• General economic situation expectation: The sub-index reflecting expectations for the general economic situation over the next 12 months experienced the most significant decline, decreasing by 7%.
• Current financial situation of households: The sub-index measuring the present economic situation of households fell by 5.4%.
• Financial situation expectation of households: The outlook for household financial situations over the next 12 months decreased by 4.2%.

Positive note in durable goods spending

In contrast to the overall decline, the sub-index for spending on durable goods over the next 12 months rose by 2.6%, suggesting optimism in this area.

What is the consumer confidence index?

The consumer confidence index measures consumer sentiment regarding the economic outlook. An index above 100 indicates optimism, while a below 100 reflects pessimism. With the current index at 75.9, the outlook is decidedly pessimistic.