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.
