Turkey’s consumer confidence index drops in October

Turkey’s consumer confidence index dropped slightly in October. The index fell by 0.3 percent to 74.04 points in October from 74.29 in September, according to Turkish Statistical Institute. The financial situation expectation of household index rose 2.2 percent sequentially to 94.09 points in October. The rise in this index was due to the increase in the ratio of people expecting better financial situation of household in the next 12 months period.

Meanwhile, the general economic situation expectation index dropped to 101.62 in October from 102.92 in September. The drop indicates that the number of consumers anticipating general economic situation in the coming 12 months dropped from September.

The number of people unemployed expectation index came at 77.2 in October, falling by 4.1 percent sequentially. The decrease in the ratio of people expecting a drop in the number of unemployed persons in the next 12 months stemmed the drop in this index.

Meanwhile, the possibility of saving index rose 7.2 percent to 23.37 points in October from 21.72 points in September. This rise indicates that the likelihood of saving of consumers in the coming 12 months period rose sequentially, according to Turkish Statistical Institute.