Bloomberg HT Consumer Confidence Index Decreased in October.

Bloomberg HT Consumer Confidence Index Declined in October 2023

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

Declines in Current Situation and Expectations

Looking at the details of the index, there was a significant decline in consumers' perception of the current situation, future expectations, and consumption trends. In particular, it was observed that inflation expectations rose in the sub-indices.

Domestic Agenda and Market Impacts

The monthly report indicates that recent developments in the domestic political agenda and the negative trend in the stock market were among the main factors negatively affecting consumers' perception of the current situation and their expectations. In this context, the Bloomberg HT Consumer Expectation 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, decreased by %3.84, dropping to 76.38. This situation is associated with the increase in new season prices, expectations for “Black Friday” discounts in November, and discount expectations in sectors such as automobiles in December.