Turkish consumer confidence index up in July

Consumer confidence index (CCI) in Turkey increased by 3.1  points reaching 92.9 points from 89.9 in July compared to May. Household financial expectation for the next 12 months rose by 1.4 points to 107.2 points. The index of general financial expectation increased by 5.5 points and recorded as 116. 5 points. The index of expectation on the number of unemployed persons rose by 3.5 points to 87.7 points while consumers' probability of saving decreased by 2 points to 60. 3 points.   European Union's consumer confidence index increased by 2.7 points in July compared to the previous month.  An 8.6-point increase was recorded in the UK followed by France with 5.1, Spain with 2.9, Germany 0.9 and Italy with 0.7 points while Bulgaria saw a 0.9-point decrease. CCI is an indicator designed to measure consumer confidence, which is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. The index has a range from 0 to 200. If the index gets a value greater than 100, this implies that the rate of optimists is more than the rate of pessimists. Similarly, if the index gets a value less than 100, the rate of pessimists is more than the rate of optimists.