Turkey’s consumer confidence index at 58.8 in December

Turkey’s consumer confidence index at 58.8 in December

ANKARA - Anadolu Agency
Turkey’s consumer confidence index at 58.8 in December

Turkish consumers' confidence in the country's economy was 58.8 in December, Turkey's statistical authority revealed on Dec. 20.

Consumer confidence in Turkish economy deteriorated this month after rising for two consecutive months.

The figure dropped 1.9 percent month-on-month in December, Turkish Statistical Institute (TÜİK) said in a statement.

All sub-indices, except the probability of saving index, slipped compared to last month.

The number of people unemployed anticipation index fell the most with 2.9 percent as people are more pessimistic about finding jobs.

Sentiment on the general economic situation decreased 2.5 percent month-on-month in December.

The financial situation expectation of household reading also saw a slide of 2.1 percent during the same period.

However, the probability of saving index - indicating people's expectation of earning enough money to save - showed an improvement, going up 3.5 percent from last month.

The index value is jointly calculated by TÜİK and the Central Bank (TCMB) through measurement of consumer tendencies.

The consumer confidence index is seen as a vital gauge of the overall health of the economy, indicating people's sentiments about spending their money, which in turn gives clues about economic vitality.