Turkey's consumer confidence index down 1.64 % in July

The consumer confidence index was down 1.64% month-on-month in July 2011, Turkey's statistics authority, TurkStat, said on Tuesday.

Releasing the consumer confidence index for July 2011, TurkStat said the index, which was 96.42 percent in June, decreased to 94.83 percent in July.

The decrease in the Consumer Confidence Index stemmed from the deterioration in consumers' assessments concerning purchasing power in the next period, general economic situation in the next period, job opportunities in the next period and buying time condition of durable goods in the present period, TurkStat said.

The consumer confidence index calculated from the survey results indicates an optimistic outlook when the index is above 100, but it gives a pessimistic outlook when it is below 100. The index refers to neither optimistic nor pessimistic outlook when it is equal to 100.


/World Bulletin/