Consumer confidence index falls, again

* Photo: Pixabay

The Turkish Statistical Institute (TurkStat) released the Consumer Confidence Index for August 2020 today (August 21).

In monthly consumer tendency surveys conducted in cooperation with the TurkStat and the Central Bank, consumers' assessments and expectations on financial standing and general economic situation as well as their expenditure and saving tendencies are measured.

Accordingly, the recent figures announced by the TurkStat have shown that the seasonally adjusted consumer confidence index has decreased by 2.2 percent in August, when compared to the previous month. The index became 59.6 in August while it was 60.9 in July.

The consumer confidence index also witnessed a drop in July. That is, while it was announced as 62.6 percent in June, it dropped to 60.9 in July.

* Seasonally adjusted consumer confidence index, August 2020

Financial economic expectations have dropped as well

According to the TurkStat data, the financial situation expectation of household index in the next 12 months period, which was 80.6 percent in July, decreased by 3.5 percent and became 77.8 in August.

Similarly, the general economic situation expectation index in the next 12 months period, which was 82.2 percent in July, also decreased by 3.3 percent and became 79.5 in August 2020.

Probability of saving index has increased

The number of people unemployed expectation index in the next 12 months, which was 61.0 in July, fell by 2.5 percent and became 59.5 in August. The probability of saving index in the next 12 months period, which was 19.9 in July, increased by 8.8 percent and became 21.7 in August.

* Seasonally adjusted consumer confidence index, sub-indices and rate of changes, August 2020

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