Turkey’s consumer morale falls to 58.2

Turkey’s consumer morale falls to 58.2

Turkey’s consumer morale falls to 58.2

The Turkish consumer confidence index dropped to 58.2 in December with a decrease of 1.4 points compared to November, the Turkish Statistical Institute (TÜİK) said on Dec. 21.

The index, calculated from the results of a consumer tendency survey carried out in cooperation between TÜİK and the Turkish Central Bank, had hit the lowest level of 10 years in October with 57.3 points.

The financial situation expectation of household index in the next 12 months period, which was 77.5 in November, decreased by 2.9 percent and became 75.3 in December, TÜİK said.

The general economic situation expectation index which was 77.4 in November decreased by 1.7 percent and became 76 in December.

The number of people unemployed expectation index which was 63.4 in November decreased by 3.9 percent and became 60.9 in December.

The probability of saving index which was 20.1 in November increased by 2.4 percent and became 20.6 in December.

The consumer confidence index calculated from the survey results is evaluated within the range of 0-200. It indicates an optimistic outlook when the index is above 100, but indicates a pessimistic outlook when it is below 100.

Turkish economy, 2018,