The Bloomberg HT Consumer Confidence Preliminary Index declined by 4.03 percent from the previous month’s final index to 55.95 in August.
Looking at the details of the index, the drivers ow weak confidence was the perception of the current situation and expectations of the consumers for the future.
Consumer Confidence, which rose for two months after the lifting of pandemic closures, declined again in the first half of August.
Disasters caused by fires and floods, an increase in the number of C-19 cases and casualties related to the pandemic appeared to be among the reasons for the loss of confidence.
The devaluation of the TL, which tended to recover in July, and the continued upward trend of inflation were other factors that led to the loss of confidence.
In this context, the Bloomberg HT Consumer Expectations Preliminary Index was 63.14, down 17.79 percent from the previous month.
On the other hand, the Bloomberg HT Consumption Trend Preliminary Index, which tries to measure the suitability of the current period for the purchase of durable consumer goods and automobiles and housing, fell 29.22 percent to 27.60. In particular, the decline in the willingness to buy houses and cars was seen to be effective in this decline.