Macro Snapshot: Consumer Confidence Index

In December, CCI decreased by 3.1% MoM to 68.9 (November: 71.1) which was the lowest level since 2004 (beginning of data set). According to 3-month average figures, CCI decreased by 8.6% QoQ and 10.5% YoY in 4Q21. Additionally, CCI decreased by 2.4% in 2021 according to 12- month average figures.

In monthly basis, all main sub- indices recorded decreases. Expectations for wages change and assessment of spending on semi- durables were over the critical value of 100 which indicates the positive expectations.

14 of 18 sub-indices recorded monthly decreases. Monthly positve changes were seen on
expectation for wages change, probability of borrowing money, expectations for consumer prices change and probability of buying or building a home. Despite the sharp losses on the Lira currency and decreases on the probability of saving and buying time condition of durables, improvement on the expectation for the consumer price changes deserved attention.

According to 3-month average figures, financial situation expectations of household and probability of borrowing money for the consumption expenditures decreases, simultaneously.

Despite all assesments on current general economic conditions continued to deteriorate…

expectations on wage changes continued to recover and remained at the optimistic area for the 7- month in a row. Additionally, monthly improvement signal on the expecation for consumer prices changes deserved attention.

Despite, assessment on spending semi-durables continued to remain at the optimistic area for 15 months consecutively, assessment on spending both semi-durables and durable continued to decrease in December.

Investment-saving related indices continued to stay significantly below of critical value of 100. According to 3-month average figures, the sharpest deterioration was seen on
probability of buying a car.


Y. F. Securities Research