Turkey‘s consumer confidence decreases in November
The consumer confidence index fell 2.4% month over month to post a reading of 68.7 in November after posting a reading of 70.3 in the previous month. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.
The index of expectations for the general economic situation for the next 12 months decreased 0.9% from October to post a reading of 90.5 in November. The lower index reading indicates that the number of consumers who expect a better general economic situation in the next 12 months has declined when compared to the previous month.
The index of financial expectations of households for the next 12 months was down 1.7% to post a reading of 88.6 in November while the index of expectations for the number of unemployed persons in the next 12 months also dropped 0.5% to post a reading of 81.2, indicating that consumers expect higher unemployment figures over the next year.
Meanwhile, the index of the probability of saving in the next 12 months declined 5.2% month over month to 24.7 in November, which suggests that the number of consumers who believe that they will be able to increase their savings in the next 12 months has declined.
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