Skip to main content Skip to search

Archives for News

Economic confidence index in Turkey increased by 11.8% in July to 82.2

30.07.2020

Economic Confidence Index, July 2020 in Turkey

Economic confidence index which was 73.5 in June increased by 11.8% in July to 82.2. This increase in economic confidence index stemmed from the increases in real sector (manufacturing industry), services, retail trade and construction confidence indices.

Real sector confidence index increased by 10.7% and became 99.4, services confidence index increased by 20.2% and became 66.7, retail trade confidence index increased by 9.6% and became 94.6, construction confidence index increased by 11.6% and became 87.0 in July compared to the previous month. On the other hand, consumer confidence index decreased by 2.7% and became 60.9 in July.

Economic confidence index, July 2020

Economic confidence index, sectoral indices and the rate of changes, July 2020

The next release on this subject will be on August 28, 2020.
_____________________________________________________________________________________________________

EXPLANATIONS

Economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations and tendencies about general economic situation. The index is combined by means of a weighted aggregation of sub-indices of seasonally adjusted consumer confidence, real sector, services, retail trade and construction confidence indices.

In the calculation of economic confidence index, each sectoral weights are not directly applied to the five confidence indices themselves but to their normalised individual sub-indices series as equally-distributed in each sector. Within this scope, totally 20 sub-indices of confidence indices for consumer, real sector, services, retail trade and construction are used in the calculation.

Sub-indices used in the calculation of economic confidence index are calculated with data collected in the first two weeks of each month.

It indicates an optimistic outlook about the general economic situation when economic confidence index is above 100, whereas it indicates a pessimistic outlook when it is below 100.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

Services producer price index in Turkey increased by 9.77% annually and 2.22% monthly

29.07.2020

Services Producer Price Index, June 2020 in Turkey

S-PPI (2017=100) increased by 2.22% monthly, by 9.96% on December of the previous year, by 9.77% on same month of the previous year and by 11.40% on the twelve months moving averages basis in June 2020.

S-PPI rate of changes (%), June 2020

S-PPI annual rate of change (%), June 2020

Transportation and storage services increased by 17.31% annually

The indices increased by 17.31% for transportation and storage services, by 5.72% for accommodation and food services, by 5.22% for information and communication services, decreased by 20.87% for real estate services, increased by 10.46% for professional, scientific and technical services, by 5.41% for administrative and support services compared with the previous year.

S-PPI rate of annual changes (%), June 2020​

Transportation and storage services increased by 3.61% monthly

The indices increased by 3.61% for transportation and storage services, by 5.36% for accommodation and food services, decreased by 0.74% for information and communication services, by 13.48% for real estate services, by 0.37% for professional, scientific and technical services, increased by 3.71% for administrative and support services compared with the previous month.

S-PPI rate of monthly changes (%), June 2020

The highest annual decrease was in real estate services by 20.87%

The highest rates of annual decrease in S-PPI by subdivisions of services were for real estate services by 20.87%, for accommodation services by 11.77%, for travel agency, tour operator and other reservation services and related services by 5.29%. On the other hand the highest rates of annual increase in S-PPI by subdivisions of services were for postal and courier services by 25.87%, for air transport services by 25.68%, for warehousing and support services for transportation by 25.25%.

Annual rate of change for sectors of S-PPI (%), June 2020

The highest monthly decrease was in programming and broadcasting services by 13.60%

The highest rates of monthly decrease in S-PPI by subdivisions of services were for programming and broadcasting services by 13.60%, for real estate services by 13.48%, for services to buildings and landscape by 3.31%. On the other hand the highest rates of monthly increase in S-PPI by subdivisions of services were for air transport services by 26.15%, for travel agency, tour operator and other reservation services and related services by 14.43%, for accommodation services 14.37%.

Monthly rate of change for sectors of S-PPI (%), June 2020

The next release on this subject will be on August 31, 2020.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

According to the general trade system exports and imports increased by 15.7% and 8.3% respectively in June 2020

29.07.2020

Foreign Trade Statistics, June 2020 in Turkey

According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Trade, in June 2020; exports were 13 billion 462 million dollars with a 15.7% increase and imports were 16 billion 308 million dollars with a 8.3% increase compared with June 2019.

Exports and imports decreased by 15.1% and 3.2% respectively in January-June 2020

In January-June 2020 period, exports were 75 billion 21 million dollars with 15.1% decrease and imports were         98 billion 895 million dollars with 3.2% decrease compared with January-June 2019.

The foreign trade deficit decreased by 17.0% in June 2020

In June 2020 foreign trade deficit was 2 billion 846 million dollars with a 17.0% decrease compared with June 2019. In June 2020, exports coverage imports was 82.6% while it was 77.2% in June 2019.

The foreign trade deficit increased by 73.2% in January-June 2020

In January-June 2020 period, foreign trade deficit was 23 billion 874 million dollars with a 73.2% increase compared with January-June 2019. In the same period, exports coverage imports was 75.9% while it was 86.5% in January-June 2019.

Export, Import and Balance, June 2020

The ratio of manufacturing industries products in total exports was 94.5% in June 2020 

In June 2020, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 94.5%, 3.6%, 1.5%, respectively.

In January-June 2020 period, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were  94.2%, 3.6%, 1.7%, respectively.

The ratio of intermediate goods in total imports was 73.7% in June 2020

In June 2020, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 73.7%, 14.7%, 11.4%,  respectively.

In January-June 2020 period, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 75.7%, 13.7%, 10.3%,  respectively.

The main partner for exports was Germany in June 2020

In June 2020, the main partner country for exports was Germany with 1 billion 290 million dollars. The country was followed by United Kingdom  with 1 billion 12 million dollars,  USA with 790 million dollars, Iraq with 701 million dollars, and Italy with 628 million dollars. The ratio of the first five countries in total exports was 32.8% in June 2020.

In January-June 2020 period, the main partner country for exports was Germany with 7 billion 102 million dollars. The country was followed by USA with 4 billion 619 million dollars, the United Kingdom with 4 billion 455 million dollars, Iraq with 4 billion 74 million dollars, Italy with 3 billion 602 million dollars. The ratio of the first five countries in total exports was 31.8% in January-June 2020.

The main partner for imports was China in June 2020

In June 2020, the top country for Turkey’s imports was China with 1 billion 935 million dollars. The country was followed by Germany with 1 billion 527 million dollars, Russia with 1 billion 183  million dollars, Iraq with 907 million dollars and USA with 779 million dollars.  The ratio of first five countries in total imports was 38.8% in June 2020.

In January-June 2020 period, the top country for Turkey’s imports was China with 10 billion 376 million dollars. The country was followed by Germany with 9 billion 113 million dollars, Russia with 8 billion 731 million dollars, USA with 6 billion 61 million dollars and Italy with 3 billion 856 million dollars. The ratio of first five countries in total imports was 38.6% in January-June 2020.

Seasonally and calendar adjusted exports increased by 15.3%

In June 2020, seasonally and calendar adjusted exports and imports increased by 15.3% and 8.9 %, respectively, compared with previous month. In June 2020, calendar adjusted exports and imports decreased by 6.4% and 9.3%  compared with June 2019.

Ratio of exports of high-tech products in manufacturing industries was 3.2%

Foreign trade by technology intensity covers the manufacturing industries’ products in classification of ISIC Rev.4. According to the ISIC Rev.4, the ratio of manufacturing industries products in total exports was 94.5% in June 2020. The ratio of high-technology products in manufacturing industries exports was 3.2%. In January-June 2020 period, the ratio of high-technology products in manufacturing industries exports was 3.5%.

The ratio of manufacturing industries’ products in total imports was 84.8%. The ratio of high-technology products in  manufacturing industries’ imports was 12.0% in June 2020. The ratio of manufacturing industries’ products in total imports was 80.0% in January-June 2020. The ratio of high-technology products in manufacturing industries’ imports was 13.4% in January-June 2020.

According to the special trade system, exports were 12 billion 745 million dollars in June

According to the special trade system, in June 2020, exports were 12 billion 745 million dollars with a 15.2% increase and imports were 15 billion 835 million dollars with a 11.1% increase compared with June 2019.

In June 2020 foreign trade deficit  was 3 billion 91 million dollars with a 3.1% decrease compared with June 2019.

Exports coverage imports was 80.5% while it was 77.6% in June 2019.

Exports were 70 billion 893 million dollars in January-June 2020

According to the special trade system, exports were 70 billion 893 million dollars with a 15.3% decrease and imports were 94 billion 527 million dollars with a 4.1% decrease compared with January-June 2019.

In January-June 2020 period, foreign trade deficit was 23 billion 633 million dollars with a 58.8% increase compared with January-June 2019.

Exports coverage imports was 75.0% while it was 84.9% in January-June 2019.

The next release on this subject will be on August  31, 2020.
__________________________________________________________________________________________________
EXPLANATION

Foreign trade statistics are calculated according to two different trade systems, general trade system and special trade system. In the general trade system, goods entering and leaving the economic area of a country are covered. In this system, free zones, customs warehouses and goods entering or leaving the free circulation area, which constitute the economic area of the country, are included in the calculations. In the special trade system, customs warehouses and free zones are not included in the statistics, only goods entering and leaving the country’s free circulation area are covered.

In this context, in order to ensure consistency with economic statistics such as balance of payments and national accounts calculations, foreign trade statistics, which is produced by Turkish Statistical Institute in collaboration with the Ministry of Trade, have been published according to the general trade system in detail from January 2020. In addition, statistics according to the special trade system have been published in the press release and additional tables.

Read more

The number of road motor vehicle registrations increased by 46.0% compared with the previous month in Turkey

29.07.2020

Road Motor Vehicles, June 2020 in Turkey

Regarding the vehicle registrations in June, cars accounted for 41.2%, followed by motorcycles 38.8%, small trucks 10.5%, tractors 6.7%, trucks 1.3%, minibus 0.7%, bus 0.6% and special purpose vehicles 0.2%.

The number of road motor vehicle registrations increased by 46.0% compared with the previous month

In June, the number of road motor vehicle registrations increased by 377.8%, 74.4%, 63.5%, 51.4%, 46.5%, 37.9%, 32.8% and 32.6% for special purpose vehicles, small trucks, buses, motorcycles, minibuses, cars, trucks and tractors  respectively.

The number of road motor vehicles registered increased by 81.5% compared with the same month of the previous year

In June, compared with the same month of the previous year, the number of road motor vehicle registrations increased by 227.1%, 200.0%, 172.5%, 135.3%, 115.3%, 90.7%, 71.8% and 60.4% for small trucks, special purpose vehicles, tractors, minibuses, trucks, buses, cars and motorcycles respectively.

At the end of June, the total number of road motor vehicles registered reached 23 million 519 thousand 132

At the end of June, cars represented 54.1%, small trucks 16.4%, motorcycles 14.4%, tractors 8.2%, trucks 3.6%, minibuses 2.1%, buses 0.9% and special purpose vehicles 0.3% of total number of road motor vehicles registered.

1 million 97 thousand 112 road motor vehicles handed over in June

Among vehicles handed over(1) in June, cars accounted for 70.5% followed by small trucks 16.1%, motorcycles 6.2%, tractors 2.6%, trucks 2.2%, minibuses 1.9%, buses 0.4% and special purpose vehicles 0.1%.

In June, 31 thousand 360 cars were registered to the traffic

In terms of the distribution of trademarks for the new registered cars in June, Renault recorded 18.2%, Fiat 11.4%, Volkswagen 7.8%, Hyundai 6.9%, Citroen 5.8%, Peugeot 5.7%, Opel 5.5%, Honda 5.3%, Toyota 5.1%, Audi 4.9%, Kia 3.2%, Dacia 3.1%, Ford 2.8%, Mercedes-Benz 2.8%, Skoda 2.6%, Seat 1.5%, Suzuki 1.1%, BMW 1.1%, Nissan 0.9%, Volvo 0.7% and the other trademarks 3.5% of the total.

In the period of January-June total road motor vehicles in traffic increased by 388 thousand 56

In January-June period compared to the same period of previous year, the number of registered vehicles increased by 23.9% and became 388 thousand 56, while the number of withdrawn road motor vehicles decreased by 81.9% and became 24 thousand 344. Hence, in the period of January-June the increase in motor vehicles registered became 363 thousand 712.

In the period of January-June the ratio of cars registered using gasoline was 47.3%

Among 215 thousand 122 cars registered in the period of January-June, the share of gasoline-fuelled cars was 47.3% followed by diesel-fuelled cars with 43.5%, LPG-fuelled cars with 6.2% and electric or hybrid cars with 3.0%.  At the end of June, among 12 million 714 thousand 604 registered cars, the share of diesel-fuelled cars was 38.2% followed by LPG-fuelled cars with 37.2% and gasoline-fuelled cars with 24.1%. The share of electric or hybrid cars was 0.2% and the cars with unknown(2) fuel type was 0.3%.

Most frequent engine size was 1401-1500 for registered cars in the period of January-June

Within 215 thousand 122 cars registered to traffic in January-June period, 29.8% had 1401-1500, 26.7% of them had engine size 1501-1600, 23.1% had 1300 or less, 14.0% had 1301-1400, 5.3% had 1601-2000, 1.0% had 2001 and above.

In the period of January-June 106 thousand 658 of cars registered were white

Within 215 thousand 122 cars registered to traffic in January-June period, 49.6% of them were white, 25.2% were grey, 7.3% were black, 6.7% were blue, 6.6% were red, 1.8% were orange, 1.3% were brown, 0.7% were yellow, 0.2% were green and 0.6% were in other colours.

The next release on this subject will be on 28 August, 2020. 
                                                                                                                                                                                      

EXPLANATIONS

(1) Road motor vehicles handed over are that the owners of them had changed through the notaries for one time or more.

(2) Unknown includes the cars for which the type of fuel field in the license was entered incorrectly or left blank.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

Confidence index increased in services, retail trade and construction sectors in Turkey

27.07.2020

Sectoral Confidence Indices, July 2020 in Turkey

Seasonally adjusted confidence index increased by 20.2% in services, 9.6% in retail trade and 11.6% in construction sectors in July compared to the previous month.

Seasonally adjusted sectoral confidence indices, July 2020

Seasonally adjusted sectoral confidence indices, sub-indices and the rate of changes, July 2020

Services confidence index realized as 66.7

Seasonally adjusted confidence index which was 55.5 for services in June increased by 20.2% in July to 66.7. In services sector compared to the previous month, business situation over past three months sub-index increased by 42.5% to 54.5. Demand-turnover over past three months sub-index increased by 36.5% to 55.2 and demand-turnover expectation over next three months sub-index increased by 2.9% to 90.3.

Seasonally adjusted services confidence and tendency indices, July 2020

Retail trade confidence index realized as 94.6

Seasonally adjusted retail trade confidence index increased by 9.6% in July to 94.6. In retail trade sector compared to the previous month, business activity-sales over past three months sub-index increased by 43.1% to 69.6. Current volume of stock sub-index decreased by 2.9% to 110.4 and business activity-sales expectation over next three months sub-index increased by 7.3% to 103.9.

Seasonally adjusted retail trade confidence and tendency indices, July 2020

Construction confidence index realized as 87.0

Seasonally adjusted construction confidence index which was 78.0 in previous month increased by 11.6% in July to 87.0. In construction sector compared to the previous month, current overall order books sub-index became 73.9 by increasing 25.0%. Total employment expectation over next three months sub-index increased by 3.4% to 100.0.

Seasonally adjusted construction confidence and tendency indices, July 2020

In construction sector, 63.1% of the enterprises indicated at least one factor limiting their activities while 36.9% of the enterprises indicated none in July. Among the main factors limiting activities in construction sector; “financial “constraints” which was 36.8% in June realized as 38.2% in July, “insufficient demand” which was 34.5% in June realized as 31.9% in July and “other factors” which was 32.8% in June realized as 19.9% in July.

The next release on this subject will be on August 25, 2020.
_____________________________________________________________________________________________________

EXPLANATIONS

Sectoral confidence indices can take value between 0 and 200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

Presidential System Evaluated at a Meeting in Ankara

24.07.2020

​​On July 21, the 2-Year Presidential System of Government Review Meeting was held at the Presidential Complex in Ankara under the leadership of President Recep Tayyip Erdoğan.
Citing the referendum that enacted the presidential system, President Erdoğan said, “The Presidential System of Government is the only administrative reform that has been carried out directly by the national will in our 200-year history.” Thanks to the presidential system, Turkey is now faster, more powerful and more global in terms of its reflexes, he added.
Since the transition to the presidential system in April 16, 2017, the Turkish government has been working hard to advance Turkey’s position in diplomacy and global economy. “Total investments in Turkey reached TRY 2.3 trillion in 2018 and 2019, of which TRY 2 trillion has been made by the private sector,” added President Erdoğan.

Source: Republic of Turkey Investment Office News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

Turkey’s Startup Martı Attracts 25 Million Dollars in Investment

24.07.2020

​​Turkey’s rental scooter startup Martı announced that it has raised an additional USD 25 million worth of investment.
Founded in 2018 and grew to build a service base spanning several metropoles in Turkey since 2019, Martı has recently attracted investments from 212 Venture Capital Fund and Wamda Capital.
According to Martı’s released mission statement, it has set goals to boost the mobility sector in Turkey, present Turkish commuters with comfortable and environment-friendly solutions and trail blaze for other countries to follow.
Martı is about to increase its employees to 1,000, with as many as 3,000,000 active service users.

Source: Republic of Turkey Investment Office News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

Imports of hard coal increased by 5.5% compared to the same period of the previous year in Turkey

24.07.2020

Solid Fuels, May 2020 in Turkey

Marketable production of lignite(1) decreased by 2.2% in May compared to the previous month; by 21.5% in January-May period compared to the same period of the previous year; and by 42.0% compared to the same month of the previous year.

Marketable production of hard coal was 17 thousand 354 tonnes in May

Marketable production of hard coal increased by 30.7% in May compared to the previous month. On the other hand, its production decreased by 33.6% in January-May period compared to the same period of the previous year and by 84.2% compared to the same month of the previous year.

Marketable production of coke derived from hard coal increased by 2.0% in May compared to the previous month. However, its production decreased by 2.5% in January-May period compared to the same period of the previous year and by 7.0% compared to the same month of the previous year.

Imports of hard coal increased by 5.5% compared to the same period of the previous year

Imports of hard coal increased by 5.5% in January-May period compared to the same period of the previous year. On the other hand, its import decreased by 6.0% in May compared to the previous month and by 13.0% compared to the same month of the previous year.

Imports of coke derived from hard coal decreased by 53.2% in May compared to the previous month; by 11.5% in January-May period compared to the same period of the previous year; and by 49.4% compared to the same month of the previous year.

The highest ratio of production to deliveries was in lignite in January-May period

The highest ratio(2) of production to deliveries was in lignite by 107.4%. This ratio was 90.1% for coke derived from hard coal and 2.5% for hard coal in January-May period.

Hard coal and lignite were delivered mostly to thermal power plants

Concerning the deliveries of solid fuels in May, hard coal was delivered with a percentage of 50.5% to thermal power plants, 24.0% to coking plants, and 12.5% to industry (except iron and steel industry). Additionally, 86.1% of lignite was delivered to thermal power plants and 9.8% to industry (except iron and steel industry). Lastly, 98.8% of coke derived from hard coal was delivered to iron and steel industry.

The next release on this subject will be on August 24, 2020.
                                                                                                                                                                                 

EXPLANATIONS

(1) Asphaltite is included within lignite.
(2) It shows the proportion of marketable production in deliveries.
Ratio of production to deliveries = (marketable production quantity / delivery quantity)*100


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

In Turkey, 1 million 286 thousand 242 automobiles were produced in 2019

24.07.2020

Annual Industrial Products (PRODCOM) Statistics, 2019 in Turkey


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more

Consumer confidence index in Turkey realized as 60.9 in July 2020

23.07.2020

Consumer Confidence Index, July 2020 in Turkey

Seasonally adjusted consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Turkey decreased by 2.7% in July compared to the previous month. The index became 60.9 in July while it was 62.6 in June.

Seasonally adjusted consumer confidence index, July 2020

Financial situation expectation index realized as 80.6

The financial situation expectation of household index in the next 12 months period which was 79.9 in June increased by 0.9% and became 80.6 in July.

General economic situation expectation index became 82.2

The general economic situation expectation index in the next 12 months period which was 85.5 in June decreased by 3.9% and became 82.2 in July.

Number of people unemployed expectation index became 61.0

The number of people unemployed expectation index in the next 12 months period which was 62.1 in June decreased by 1.7% and became 61.0 in July.

Probability of saving index realized as 19.9

The probability of saving index in the next 12 months period which was 23.1 in June decreased by 14.0% and became 19.9 in July.

Seasonally adjusted consumer confidence index, sub-indices and rate of changes, July 2020

Seasonally adjusted consumer confidence index and indices concerning consumer tendency, July 2020

The next release on this subject will be on August 21, 2020.
                                                                                                                                                                               

EXPLANATIONS

In monthly consumer tendency survey, consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies are measured.

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

The increase in probability of borrowing money index, which is the one of the indices concerning consumer tendency indicates an optimistic outlook while decrease in index indicates a pessimistic outlook. Similarly, increase in assessment and expectation in consumer prices change rate indices indicate a decrease in assessment/ expectation in consumer prices and vice versa.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Read more