Consumer confidence plummeted in June
The Turkish Statistical Institute (TUIK) announced the Consumer Confidence Index for June 2023.
Consequently, the consumer confidence index, which was 91.1 in May, decreased by 6.5 percent in June and became 85.1.
If the index is above 100, it indicates a bullish situation in consumer confidence, while below 100 indicates a bearish situation in consumer confidence.
Source: TURKSTAT
GREAT DECREASE IN HOUSEHOLD FINANCIAL STATUS EXPECTATIONS
Looking at the sub-indices, the current period household financial situation decreased 2.2 percent compared to the previous month and fell back to 69.1.
In the same period, the expectation of the household’s financial situation in the next 12 months decreased by 8.8 percent to 85.8.
While the expectation of the general economic situation in the next 12 months decreased by 7.8 percent to 92.7; The idea of spending on durable goods in the next 12 months decreased 6.2 percent to 93.