Turkey: Consumer confidence drops to over one-year low in August
Consumer confidence fell to 68.0 in August from July’s 80.1. August’s result marked the weakest sentiment since June 2022. As a result, the index remained entrenched below the 100-threshold, indicating sustained pessimism among consumers.
The downturn was driven by deteriorations in all subcomponents, including households’ views about their financial situation and the country’s economic prospects over the next 12 months, as well as their likeliness to purchase big-ticket items.