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Turkey's consumer confidence index surges 22.9% in November

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/11/2015 (13:42)
Turkey’s consumer confidence surged 22.9% from a month earlier in November, according to data from 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 increased to a reading of 77.15 in November from a reading of 62.78 in October. 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 climbed 30.9% on the month to post a reading of 105.9 in November from a reading of 80.87 in the previous month. 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 also up 10.5% in November to 95.66 while the index of expectations for the number of unemployed persons in the next 12 months rose by 31% to a reading of 84.66 in November.

Meanwhile, the index of the probability of saving in the next 12 months increased 17.3% month over month to 22.37 in November. This increase means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has increased compared to the previous month.
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