Turkey: Consumer confidence drops slightly in October

By Gokhan Ergocun

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

The consumer confidence index stood at 81.9 this month, down by 0.1% from 82 in September, 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 3.3% to 69.4 in October, versus 71.8 in September.

The financial situation expectation of household index in the next 12 months reached 79.5, up 0.6% month-on-month.

The general economic situation expectation index in the next 12 months stood at 81.4 in October, falling 2.3% on a monthly basis.

Assessment on spending money on durable goods index over the next 12 months compared to the past 12 months increased by 3.9% to reach 97.4 in October, up from 93.8 in September.

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.