Turkey’s premier private consumer confidence index registered a small decline MoM in September, in contrast to Turkstat figures which reported a minor increase over the same period.
The summer rebound in the economy seem to have somewhat improved consumers’ outlook on the future of the economy. Burt, propensity to spend is lingering at historic lows.
Bloomberg HT Consumer Confidence Index result for Sept 2021 displays a fall of 1.40 per cent for the consumer sentiment as the index value of 59.22.
In September, there is deterioration at current perceptions of consumers’ personal well-being. However, there is an improvement for the perceptions on Turkish Economy. Inflation and falling real income together with depreciation of TL seem to be negatively affecting personal well-being of consumers. That is also contributing to the fall in tendency to consume.
The momentum of back to school on services seems to contribute to the improvement of confidence on the expectations for the Turkish Economy. In this respect, Bloomberg HT Consumer Expectations Index rise by 4.73 percent compared to August, as of the index number 69.02. Bloomberg HT Consumption Tendency Index which tries to measure consumers’ stance on whether the current period is the right time to buy durable goods, autos and real estate is experiencing a fall of 17.52 percent to the value of 30.97.
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