Consumer confidence down in April

Turkey’s consumer confidence posted a 7.3% decrease in April, according to the Turkish Statistical Institute (TurkStat).

From 72.5 in March, the consumer confidence index fell to 67.3 this month, data from TurkStat showed.

The index is a vital gauge of the economy’s overall situation, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

All sub-indices posted a decrease with the financial situation of household, at present, slipping the most at 9.8%.

The index for assessment of spending money on durable goods over the next 12 months also went down by 4.9% to 88.8.

The financial situation expectation of households over the next 12 months diminished by 8.5% to 49.1, while the general economic situation expectation index went down by 7.2% to 67.3.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.

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