Turkey: Consumer confidence falls in August
Consumer confidence fell to 59.6 in August from July’s 60.9. As a result, the index moved further below the 100-threshold, indicating pessimism among consumers.
The fall came on the back of a deterioration in consumers’ assessments of their future financial situation, while views of the general economic climate also weakened. Subsequently, the outlook on the labor market worsened and Turks’ probability to save increased.