Turkey’s consumer confidence index falls in December

Turkey’s consumer confidence index fell by 8% from a month earlier in December, according to a Consumer Tendency Survey carried out by the Turkish Statistical Institute in cooperation with the Central Bank of the Republic of Turkey.

The consumer confidence index fell to a reading of 63.38 in December from a reading of 68.93 in November. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.

The index of financial expectations of households for the next 12 months declined by 4.1% in December and became 85.40 while the index of expectations for the number of unemployed persons in the next 12 months was down 8.3% to a reading of 65.42 in December.

The index of expectations for the general economic situation for the next 12 months decreased by 9.5% on the month to post a reading of 86.02 in December from a reading of 95.06 in the previous month. The lower reading indicates that the number of consumers who expect a better general economic situation in the next 12 months has decreased compared with the previous month.

Meanwhile, the index of the probability of saving in the next 12 months dipped by 17.9% month over month to 16.68 in December. 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 compared to the previous month.