Turkey’s Economy Struggles: Low Confidence Index Reflects Societal Concerns

According to Ipsos, a global marketing and research expert, the findings of a recent study on economic expectations in 29 countries show that participants in Turkey reported a significant decrease in household income and purchasing power. The increase in prices was cited as the main reason for this decrease. Inflation was also a major concern for participants, with Turkey ranking fifth among the countries surveyed.

The research also revealed that consumer confidence in Turkey is relatively low, with only 34.5% of participants expressing confidence in the economy compared to an average of 47.2% across all 29 countries. Immigration was identified as another issue facing Turkey, with 5% of participants citing it as their biggest problem.

In terms of satisfaction with the Turkish economy, 76% of participants described it as “bad,” while only 18% said it was “neither good nor bad” and just 3% said it was “good.” Expectations for inflation were also examined, with 73% of participants predicting an increase, while only 16% expected it to remain stable and just 11% predicted a decrease.

Other questions included in the research covered household income and purchasing power. Half of the participants reported that their household income had decreased over the past year, while only 34% said it had not changed much. When asked about their purchasing power in the last month, three-quarters (76%) reported that it had decreased. Overall, these findings provide insight into the economic expectations and sentiments of participants in Turkey.