This index is calculated based on the findings of the consumer tendency survey conducted jointly by the Turkish Statistical Institute and the Central Bank of the Republic of Turkey.
In May, the index stood at 91.1, indicating a decrease of 6.5% in June.
The Consumer Confidence Index serves as an important indicator of the overall sentiment and outlook of consumers in the country.
A lower index value reflects a decrease in consumer confidence, which can have implications for economic activity and spending patterns.
The decline in the Consumer Confidence Index suggests a certain level of caution among consumers, potentially driven by various factors such as economic uncertainties, inflation concerns, or changes in personal financial situations.
It highlights the need for policymakers and businesses to closely monitor consumer sentiment and adapt strategies accordingly.
As consumer confidence plays a significant role in driving economic growth, a lower index can impact consumer spending decisions, investment patterns, and overall market dynamics.
It is essential for policymakers and stakeholders to analyze the underlying factors influencing consumer confidence and take appropriate measures to address any concerns and foster a favorable economic environment.
The Turkish Statistical Institute and the Central Bank of the Republic of Türkiye will continue to monitor the Consumer Confidence Index, providing valuable insights into the evolving consumer sentiment and its impact on the Turkish economy. (ILKHA)