Consumer confidence in the economy in Türkiye weakened in July. According to the results of the Consumer Tendency Survey conducted jointly by the Turkish Statistical Institute (TÜİK) and the Central Bank of the Republic of Türkiye (CBRT), the consumer confidence index decreased by 1.8% in July compared to the previous month and decreased to 83.5.
The index, which was recorded as 85.1 in June, entered a downward trend in July, revealing the fragility in economic expectations.
According to the data, the index for the financial situation of the household in the current period decreased by 1.6% from 69.3 to 68.2, while the index for the financial situation of the household in the next 12 months decreased by 1.4% from 85.8 to 84.6.
The deterioration in general expectations for the economy was more pronounced. The general economic situation expectation index for the next 12 months decreased by 4.2 % from 82.4 in June to 79 in July.
In addition, the consumer's propensity to spend on durable consumer goods also decreased. The thought index for such expenditures in the next 12 months, which was 102.6 in June, decreased by 0.3% in July and was recorded as 102.3.
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