Turkey‘s consumer confidence down in December
The consumer confidence index fell 1.3% on a monthly basis to post a reading of 67.7 in December following a reading of 68.7 in the previous month. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.
However, the index of expectations for the general economic situation for the next 12 months increased 1.4% month over month to post a reading of 91.8 in December. The higher reading index indicates that the number of consumers who expect a better general economic situation in the next 12 months has increased compared with the previous month.
The index of financial expectations of households for the next 12 months was up 0.3% to post a reading of 88.8 in December while the index of expectations for the number of unemployed persons in the next 12 months decreased 4.9% to post a reading of 67.3. The lower reading index suggests that a decreasing number of consumers expect higher unemployment figures over the next year.
Meanwhile, the index of the probability of saving in the next 12 months declined 7% month over month to 23 in November. This decrease means 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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