Turkey: Consumer sentiment declines in July
July 20, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, declined from June’s 69.4 to 67.0 in July, which marked a four-month low. As a result, consumer confidence remains far below the 100-threshold that separates pessimistic from optimistic territory. According to the Statistical Institute, the survey is conducted between the first and the fifteenth day of the month. Therefore, July’s reading does not include the effect of the 15 July military coup.
July’s decrease was the result of a sizeable drop in households’ probability of savings in the next 12 months as well as their financial situation in the next 12 months. Furthermore, consumers’ job prospects also deteriorated significantly, while their views on the economic situation recorded a milder decline in July than in June.