BloombergHT Consumer Confidence Survey: March reflects strong drop

Bloomberg HT Consumer Confidence Index decreased by 5.69 percent compared to the final index of the previous month in March to 65.10.  The index continues its decline that started after January.

The details show there is a decline in both the current situation perception and future expectations of the consumer.

It seems the sharp increases in the number of pandemic cases and internal and external stress in the financial markets negatively affect the consumer confidence. The decline according to the preliminary index shows that the developments experienced in the second half of March were also effective.

In this context, Bloomberg HT Consumer Expectation Index decreased by 5.96 percent compared to the previous month to 78.15. On the other hand, Bloomberg HT Consumption Tendency Preliminary Index, which measures the suitability of the current period for durable consumer goods, automobile and housing purchases, decreased by 0.43 percent to 37.55.