ANKARA: Turkey’s consumer confidence index fell month-on-month in November, according to Turkish Statistical Institute report released Tuesday. The index slipped from 74.04 points in October to 68.93 points in November, down 5.11 points or 6.9 percent, the report said.
The financial situation expectations of household index was 89.01 compared to 94.09 last month, down 5.4 percent. The probability of saving was down significantly, 12.7 percent from 23.27 in October to 20.33 in November, suggesting that more people feel pessimistic about being able to save money in the coming months.
The unemployment expectations index, a gauge of sentiment about the health of the labor market, also saw a decline of 7.6 percent from the previous month to 71.3 points. November’s general economic situation expectations index also fell 6.5 percent from the previous month to 95.06 points. 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 in the days to come.
