Türkiye's consumer confidence drops in July

ISTANBUL

Türkiye's consumer confidence decreased by 3.1% in July, falling to 75.9 from 78.3 in June, according to official figures from the Turkish Statistical Institute (TurkStat) released on Tuesday.

Among the sub-indexes, the general economic situation expectation over the next 12 months saw the most significant drop, falling by 7%.

The financial situation of households at present sub-index declined by 5.4%, while the financial situation expectation of households over the next 12 months decreased by 4.2%.

In contrast, the sub-index for the assessment of spending money on durable goods over the next 12 months increased by 2.6%.

The consumer confidence index indicates an optimistic outlook when it is above 100 and a pessimistic outlook when it is below 100.