Turkey: Consumer confidence falls further into pessimistic terrain in August
Sentiment among Turkish consumers deteriorated further midway through the second quarter, with the consumer confidence index falling to a three-month low of 78.2 in August from 79.5 in July. As such, the index remained firmly entrenched below the 100-threshold that separates pessimism from optimism among consumers.
The deterioration in the headline came on the back of worse views on the general economic climate and financial situation of households in the next 12 months. On the other hand, attitudes towards households’ financial situation at present and willingness to purchase durable goods ticked up.