Bloomberg HT Consumer Confidence Index Declines in October

Bloomberg HT Consumer Confidence Index Declined in October 2023

The Consumer Confidence Index published by Bloomberg HT decreased by %3.54 in October 2023 compared to the previous month, falling to 68.34.

Decrease in Current Situation and Expectations

According to the details of the index, there was a noticeable decline in consumers' perception of the current situation, future expectations, and consumption trends. In particular, a rise in inflation expectations was observed in the sub-indices.

Domestic Agenda and Market Effects

In the monthly report, the hot developments in the domestic political agenda and the negative trend in the stock market were among the main factors adversely affecting consumers' perception of the current situation and their expectations. In this context, the Bloomberg HT Consumer Expectations Index dropped by %5.32 compared to the final index of the previous month, reaching 66.82.

Slowdown in Consumption Trends

Additionally, the Bloomberg HT Consumption Trend Index, which measures the suitability for purchasing durable consumer goods, automobiles, and housing, declined by %3.84, falling to 76.38. This situation is associated with the increase in new season prices, expectations for discounts on "Black Friday" in November, and discount expectations in sectors like automobiles in December.