Consumer confidence slips in December
The consumer confidence index fell by 3 percent on a monthly basis to stand at 68.9 in December, data from the Turkish Statistical Institute (TÜİK) has shown on Dec.21.
That marked the decline of the index for the third month in a row. In December last year, the index figure was 80.1.
Any index figure below the 100-mark threshold indicates pessimism among consumers.
The sub-index measuring households’ expectations regarding financial situation in the next 12 months retreated to 65.2 in December from 68.9 in November, declining by 3.6 percent month-on-month while the general economic situation expectation index dropped 2.2 percent from November to stand at 66.7 in December.
The sub-index for households’ assessment of spending money on durable goods over the next 12 months compared to the past 12 months dropped to 89.6 in December from 91.4 the previous month.
The TÜİK survey also showed that consumers are expecting the number of unemployed people to increase in the next 12 months. Consumers also believe consumer prices will rise over the same period.