Turkish consumer confidence slips after 4-month high

Türkiye’s Consumer Confidence Index fell by 1%, dropping from 80.6 in October to 79.8 in November, marking the end of a four-month upward trend, according to data released by the Turkish Statistical Institute (TurkStat) on Thursday.

The sub-index reflecting expectations for the general economic situation over the next 12 months decreased by 2%, while expectations regarding household financial situations for the same period dropped by 1.8%.

Additionally, the index measuring anticipated spending on durable goods over the next 12 months declined by 1.5% compared to the previous month. However, the index for households’ current financial situation saw a 2.1% rise in November.

What is Consumer Confidence Index?

The Consumer Confidence Index is a key indicator of economic performance, providing insights into public perceptions of financial conditions, the general economic outlook, and tendencies toward spending and saving. The index ranges from 0 to 200, with values above 100 signaling optimism and values below 100 indicating pessimism among consumers.