Retail Turkish consumer confidence rebounds in July from record low By Reuters July 22, 2022, 7:07 AM Creative Commons Turkish consumer confidence had plunged in 2020 due to fallout from the COVID-19 pandemic before a rebound that began fizzling in October of last year Turkey’s consumer confidence index rose by 7.4 percent to 68.0 points in July, official data showed on Wednesday, after hitting a record low of 63.4 points in June as surging inflation and a beleaguered lira weighed further on sentiment. The biggest improvement was seen in the general economic situation over the coming 12 months, with that confidence index rising 15 percent from a month earlier, the data showed. A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism. Confidence had plunged in 2020 due to fallout from the Covid-19 pandemic before a rebound that began fizzling in October of last year. Domestic sales in Turkey’s white goods sector fell eight percent while exports were up slightly year-on-year in the first six months of the year, sector association TURKBESD said on Thursday. Domestic sales in the sector were down 2 percent in June, the association said, while exports were down 6 percent in the same period, reflecting the demand conditions. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
