FX.co ★ Turkey Consumer Confidence Deteriorates In July

Turkish consumer sentiment deteriorated in July, a survey carried out in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkey showed Thursday.

The consumer confidence index fell to 80.1 in July from 85.1 in June. A similar lower score was last seen in March.

A reading below 100 signals a pessimistic outlook, while a score above 100 indicates optimism.

All components of the consumer confidence index except assessment on spending money on durable weakened in July.

The index measuring current financial situation of households fell to 64.5 from 69.1 in the previous month. Likewise, financial situation expectation over the coming year dropped to 79.2 from 85.8 a month ago.

Households' view about general economic situation over the coming twelve months weakened with the index falling to 82.2 in July from 92.7 last month. On the other hand, assessment on spending money on durable goods improved to 94.4 from 93.0 in June.