The consumer morale in Türkiye eased in July compared to the previous month, declining for the second consecutive month, according to the official data released on Tuesday.

The consumer confidence index dropped 3.1% to 75.9 in July from 78.3 in June, according to the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute (TurkStat) and the Central Bank of the Republic of Türkiye (CBRT).

The reading marked the lowest since November 2023 as overall sentiments deteriorated during the month.

Among the subindexes, the general economic situation expectation over the next 12 months saw the most significant drop, falling by 7%.

The financial situation of households at present sub-index declined by 5.4%, while the financial situation expectation of households over the next 12 months decreased by 4.2%.

In contrast, the subindex for the assessment of spending money on durable goods over the next 12 months increased by 2.6%.

The consumer confidence index indicates an optimistic outlook when it is above 100 and a pessimistic outlook when it is below 100.