Turkish Statistical Institute TUIKshared one of the important indicators for the economy at 10:00. The consumer confidence index, which is measured jointly by Turkstat and the CBRT, fell for the third time in a row to 80.1 points.
While consumer confidence has risen to the peak of recent months in the election marathon, today it is falling one after another. This situation is one of the most important indicators that reveal that the expectations of citizens about the economy have begun to change. TurkStat also shared some data on consumer expectations.
Household Economy Expectations Are Weakening!
According to the side data shared by the Turkish Statistical Institute, the economic expectations of the households turned negative. Household financial situation expectation for the next 12 months decreased from 85.8 points to 79.2 points. This is a -7.7% lower measurement compared to the previous month. The general economic situation expectation decreased from 92.7 to 82.2.
Contrary to other metrics, demand-driven data stands out with a positive outlook. The expectation for durable goods expenditure for the next 12 months rose to 94.4 from 93 points. This situation, interestingly, points to an increased probability of staying alive. If the trend in demand continues, the CBRT will need more interest rate hikes to reduce inflation.
Domestic and foreign investors will be announced today at 14.00. CBRT interest rate looking forward to his decision.
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