CONSUMER CONFIDENCE HITS HISTORIC LOW

The seasonally-adjusted consumer confidence index dropped by 6.2% from 67.6 to 63.4, hitting a historic low in June, compared to the previous month, according to the Turkish Statistical Institute (TurkStat). The index previously saw its lowest level in April when it fell to 67.3. The index of current household finances dropped by 8.1% from 48.5 to 44.5 while the household finances expectations index in the coming 12 months fell by 10.0% from 66.5 to 59.9. The index measuring expectations for the general economic situation in the next 12 months decreased by 7.1% from 66.3 to 61.6. The index for the assessment of spending on durable goods over the next 12 months declined by 1.8% from 89.0 to 87.5 points monthly.