Turkey: Consumer sentiment drops in June
June 22, 2022
Consumer sentiment dropped to 63.4 in June from 67.6 in May. June’s result marked the lowest level since records began in 2004. Moreover, the index remained entrenched below the neutral 100-threshold that separates pessimism from optimism among Turkish consumers.
The headline deterioration reflected more downbeat views on the financial situation of household at present and in the next 12 months. This is likely linked to red-hot inflation and a tumbling Turkish lira. Views regarding the economy in the year ahead and willingness to purchase big-ticket items in the next 12 month also deteriorated.