"October 2023 Consumer Confidence Index Declines: Reasons and Consequences"

Bloomberg HT Consumer Confidence Preliminary Index Sees Decline

Bloomberg HT Consumer Confidence Preliminary Index dropped by 6.90% in October 2023, reaching a value of 65.54 compared to the final index of the previous month.

Decline in Consumer Perceptions

Looking at the details of the index, a significant decline is observed in consumers' perceptions of the current situation, their expectations for the future, and their consumption tendencies.

Particularly, it is noteworthy that inflation expectations have increased in the sub-indexes.

Political Developments and Market Impacts

Recent political developments, the adverse trend in the stock market, and rising inflation expectations seem to have negatively impacted consumers' perceptions of the current situation and their expectations.

October Data: Expectations and Consumption Trends

In this context, the Bloomberg HT Consumer Expectation Preliminary Index fell by 7.92% compared to the final index of the previous month, decreasing to 64.98.

On the other hand, the Bloomberg HT Consumption Trend Preliminary Index, which measures the suitability of purchasing durable goods, automobiles, and housing, also decreased by 8.69%, reaching 72.53.

Factors Slowing Consumption Trends

The increase in prices for the new season and the upcoming "Black Friday" discounts, along with expected discounts on automobiles in December, are among the significant factors that could slow down consumption trends.