Turkey's consumer confidence index hit a year-low in November
The consumer confidence index decreased to a reading of 65.2 in November from a reading of 67.3 in October. 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 decreased by 2.8% in November and became 86.4, while the index of expectations for the number of unemployed persons in the next 12 months was slightly up by 0.1% to a reading of 70.95 in November.
The index of expectations for the general economic situation for the next 12 months decreased by 3.7% on the month to post a reading of 87.1 in November from a reading of 90.4 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 was down considerably by 14.4% month over month to 18 in November from 21 in October. 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 fallen compared to the previous month.
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