Ipsos October Report released: Turkey's most important problem identified

Ipsos has compiled findings from its research on economic expectations conducted in October 2023 across 29 countries using its Online Panel system. According to the research, while participants stated that household income and purchasing power have dropped significantly, an upward trend was observed in the proportion of those saying “our household income has decreased” due to rising prices. In the research conducted, the economy emerged as the biggest problem in the country.

CONSUMER CONFIDENCE INDEX AT 34.5 PERCENT

According to the report by T24 based on the IPSOS research, Turkey ranked last among 29 countries in the consumer confidence index. According to the released data, the consumer confidence index in Turkey increased by 2.5 percent compared to September, reaching 34.5 percent. The average consumer confidence index for the 29 countries is 47.2 percent. The research also placed Turkey in 5th place among the 29 countries regarding inflation.

THE ECONOMY IS THE MOST IMPORTANT PROBLEM

When asked, “What is Turkey's most important problem?” 87 percent of participants answered “the economy.” Regarding satisfaction with the Turkish economy, 76 percent of participants stated it is “bad,” 18 percent said “neither good nor bad,” and 3 percent said it is “good.” Regarding expectations for Turkey's economy, 73 percent of participants expressed that inflation will increase, 16 percent said it will remain the same, and 11 percent said it will decrease.

PURCHASING POWER HAS DROPPED

When asked, “How do you think unemployment will be in the remaining months of this year?” 67 percent of participants said it will increase, 20 percent said it will remain the same, and 13 percent said it will decrease. When asked, “Thinking about the last 12 months, which of the statements written below best describes your situation regarding your household income?” 52 percent of participants answered “my household income has decreased,” 34 percent said “it has not changed much,” and 11 percent said “our household income has increased.” When asked, “Thinking about the last month, which of the statements written below best describes your purchasing power?” 76 percent of participants answered “my purchasing power has decreased,” 17 percent said “my purchasing power has not changed,” and 4 percent said “my purchasing power has increased.”