Turkey’s consumer confidence index falls in November

Turkey’s consumer sentiment declined in November from the prior month. The index fell by 6.9 percent to 68.3 in November from 74.04 in October. The index was calculated from the results of the consumer tendency survey that was conducted by the Turkish Statistical Institute and Central Bank of the Republic of Turkey.

The financial situation expectation of consumer index dropped 5.4 percent to 89.01 in November. This fall was due to drop in the ratio of people anticipating better financial situation of household in the coming 12 months.

Meanwhile, the general economic situation expectation index fell 6.5 percent to 95.06 in November. The decline in this index indicates the number of consumers expecting a better general economic situation in the coming 12 months dropped as compared to September.

The number of people unemployed expectation index fell 7.6 percent to 71.3 in November. This fall stemmed from the decline in the ratio of people anticipating a decrease in the number of unemployed persons in the coming 12 months.

The probability of saving index fell 12.7 percent from 23.27 in October to 20.33 in November. This decrease indicates that the likelihood of saving of consumers in the next 12 months period dropped.