July 21, 2023
Consumer Confidence Index in Türkiye, July 2023
Consumer confidence index realized as 80.1
Consumer confidence index, calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Türkiye, which was 85.1 in June decreased by 5.9% in July to 80.1.
Consumer confidence index, sub-indices and rate of changes, July 2023
| Index | Percentage change over the previous month (%) |
|||
|---|---|---|---|---|
| June | July | June | July | |
| Consumer confidence index | 85.1 | 80.1 | -6.5 | -5.9 |
| Financial situation of household at present | 69.1 | 64.5 | -2.2 | -6.6 |
| Financial situation expectation of household over the next 12 months | 85.8 | 79.2 | -8.8 | -7.7 |
| General economic situation expectation over the next 12 months | 92.7 | 82.2 | -7.8 | -11.3 |
| Assesment on spending money on durable goods over the next 12 months | 93.0 | 94.4 | -6.2 | 1.5 |
The next release on this subject will be on August 23, 2023.
___________________________________________________________________________________________________
EXPLANATIONS
In monthly consumer tendency survey, consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies are measured.
The consumer confidence index calculated from the survey results is evaluated within the range of 0-200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.
The increase in probability of borrowing money index, which is the one of the indices concerning consumer tendency indicates an optimistic outlook while decrease in index indicates a pessimistic outlook. Similarly, increase in assessment and expectation in consumer prices change rate indices indicate a decrease in assessment/ expectation in consumer prices and vice versa. The increase in number of people unemployed expectation index indicates decrease of number of people unemployed expectation, whereas decrease indicates increase of number of people unemployed expectation.
No seasonal effect has been determined in the sub-indices used in the calculation of the consumer confidence index since January 2023. Detailed information on this subject is submitted in the metadata section.
Source: Turkish Statistical Institute (TurkStat)
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
