Turkey's Consumer Confidence Turns Downwords In July

- Turkey's consumer confidennce turned downwards in July, as economic situation and employment expectations worsens, according to the Consumer Confidence Index data released by Turkstat on Thursday.

The consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turkstat and Central Bank of Turkey decreased by 2.7 percent to 64.66 in July on monthly basis.

Financial situation expectation increased by 0.4 percent

The financial situation expectation of household index increased by 0.4 percent compared to the previous month and became 88.24 in July. This increase resulted from the increase in the ratio of people expecting better financial situation of household in the next 12 months period.

General economic situation expectation decreased by 5.8 percent

The general economic situation expectation index which was 89.48 in June decreased by 5.8 percent and became 84.33 in July. This decrease shows that number of consumers expected a better general economic situation in the next 12 months decreased compared to the previous month.

Number of people unemployed expectation decreased by 7.2 percent

The number of people unemployed expectation index decreased by 7.2 percent compared to the previous month and became 63.89 in July. This decrease stemmed from the increase in the ratio of people expecting an increase in the number of unemployed persons in the next 12 months.

Probability of saving increased by 13.7 percent

The probability of saving index increased by 13.7 percent and rose from 19.53 in June to 22.20 in July. This increase shows that the possibility of saving of consumers in the next 12 months period increased compared to the previous month.