Türkiye's consumer sentiment weakens in November

By Tuba Ongun

Turkish consumer confidence declined in November, marking the first drop in four months, according to data released by the Turkish Statistical Institute (TurkStat) on Thursday.

The consumer confidence index fell 1% from the previous month to 79.8, data showed.

The sub-index for general economic situation expectations over the next 12 months dropped by 2%, while household financial situation expectations for the same period declined by 1.8%.

Meanwhile, the index measuring spending on durable goods over the next 12 months fell by 1.5% compared to the previous month.

In contrast, the index for households' current financial situation rose by 2.1% in November.

The index is a vital gauge of the economy's overall performance, indicating public sentiments on financial standing and the general economic situation, along with spending and saving tendencies.