Turkish consumer confidence down in December

ISTANBUL

Consumer confidence in Türkiye declined in December, with the index falling 1.8 percent from the previous month to 83.5 points, official data showed on Dec. 19.

According to the Turkish Statistical Institute (TÜİK), the index dropped 1.5 points month-on-month, reversing November’s increase, when consumer confidence had risen by 1.4 points to 85.

It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.

The sub-index measuring households’ current financial situation fell 2.4 percent in December compared with the previous month, while expectations for household financial conditions over the next 12 months declined 0.6 percent.

Expectations for spending on durable goods over the next 12 months dropped 2.3 percent on a monthly basis.

Meanwhile, expectations for the general economic situation over the next year decreased 1.8 percent in December.

The consumer confidence index is considered a key indicator of economic sentiment, reflecting households’ views on financial conditions, the broader economy and spending intentions.