Consumer Confidence Rises, Saving Possibility Dips

- Turkey's consumer confidence rose in June, from its year-low level in May, while the possibility of saving dipped over the same period, according to the Consumer Confidence Index data released by Turstat on Monday.

The consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Turkey increased by 3.4 percent in June compared to the previous month, while the index was 64.29 in May it rose to 66.45 in June.

The consumer confidence index calculated from the survey results is evaluated within the range of 0-200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.

Probability of saving is below 20

The probability of saving index fell by 1.3 percent to 19.53 in June, down from 19.79 in May. This decrease shows that the possibility of saving of consumers in the next 12 months period decreased compared to the previous month.

Financial situation expectation

The financial situation expectation of household index rose by 2.0 percent compared to 87.92 in June. The 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

The general economic situation expectation alsorose by 4.7 percent to 89.48 in June. The increase shows that number of consumers expected a better general economic situation in the next 12 months increased compared to the previous month.

Number of people unemployed expectation

The number of people unemployed expectation index rose by 4.8 percent to 68.86 in June. This increase stemmed from the decrease in the ratio of people expecting an increase in the number of unemployed persons in the next 12 months.