Ipsos, a renowned global marketing and research expert, has released the findings of a comprehensive study on economic expectations. The research was conducted with 29 countries in the Online Panel system in October 2023.
According to the research, participants reported a significant decrease in household income and purchasing power. The increase in prices led to an upward trend in the proportion of those who stated that their household income had decreased. Turkey ranked last among 29 countries in terms of consumer confidence index, with a slight increase from September to reach 34.5 percent, compared to an average of 47.2 percent across all countries surveyed.
Inflation was another major concern for participants, with Turkey ranking fifth among 29 countries. When asked about their biggest problem, 87 percent of participants identified the economy as their main concern, while only 5 percent cited immigration as their primary issue.
Satisfaction with the Turkish economy was also assessed by the study. Only 18 percent of participants described it as “good”, while 76 percent said it was “bad”. In terms of future economic expectations, most respondents (73%) predicted that inflation would increase, while only 16% expected it to remain unchanged and just 11% believed it would decrease.
Other questions included in the study focused on household income and purchasing power. Over half (52%) of participants reported that their household income had decreased over the past year, while only 34% felt that it had remained relatively stable. Similarly, when asked about their purchasing power in the past month, over three-quarters (76%) reported that it had declined.
Overall, these research findings provide valuable insights into the economic expectations and sentiments of respondents in Turkey.