Turkey’s consumer confidence dives deeper into pessimistic territory in July

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Turkey’s consumer confidence index fell to 60.9 points in July from 62.6 the previous month, dropping deeper into pessimistic territory, Turkish Statistical Institute data showed on Thursday, Reuters reported.

Measures to combat the spread of the coronavirus pandemic brought the economy to a near standstill and sent consumer confidence to a record low of 54.9 points in April.

A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.

Despite easing the coronavirus measures and reopening its economy, Turkey faces serious challenges in the tourism sector since international travel restrictions continue.

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