Financial News: Turkey Consumer Confidence Weakens In July

Turkey Consumer Confidence Weakens In July

07/23/2024 - 07:20:00 (RTTNews)

(RTTNews) - Consumer confidence in Turkey decreased in July to the lowest level in eight months, a survey carried out by Turkstat and the central bank showed on Tuesday.

The seasonally adjusted consumer confidence index dropped to 75.9 in July from 78.3 in June. Any reading below 100 indicates a pessimistic outlook.

The index measuring their own financial expectations over the next twelve months worsened to 75.9 from 79.2.

Similarly, consumers' views about the future general economic situation weakened to 70.8 from 76.1.

The indicator reflecting the assessment of the current financial situation of households dropped to 60.4 in July from 63.8 in June.

Consumers were less pessimistic about spending money on durable goods over the next twelve months, as the respective index rose to 96.5 in July from 94.0 in the prior month.

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