Turkey: Consumer confidence down in November

By Aysu Bicer

ISTANBUL (AA) – Consumer confidence in the Turkish economy posted a decline in November, the country's statistical authority announced on Friday.

The consumer confidence index stood at 80.1 this month, down by 2.2% from 81.9 in October, the Turkish Statistical Institute (TurkStat) said.

The index value is jointly calculated by TurkStat and the Central Bank of Turkey through the measurement of consumer tendencies.

Among sub-indices, the financial situation of household index at present, compared to the last 12 months, dropped by 4.1% to 66.6 in November, versus 69.4 in October.

The financial situation expectation of household index in the next 12 months reached 79, falling 0.6% month-on-month.

The general economic situation expectation index in the next 12 months stood at 78.7 in November, falling 3.3% on a monthly basis.

Assessment on spending money on durable goods index over the next 12 months compared to the past 12 months also went down by 1.2% to reach 96.2 in November, which was 97.4 in October.

Consumers’ assessments and expectations in nearly 20 economic and financial categories are measured in monthly tendency surveys.

The consumer confidence index, calculated from the survey results, is evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100, and a pessimistic one when it is below.