Turkey’s consumer confidence index falls in December

Turkey’s consumer sentiment index dropped in December. The Turkish Statistical Institute showed that the index fell 8 percent in sequential terms from 68.93 in November to 63.38 in December. The financial situation expectation of consumer index dropped in the month by 4.1 percent sequentially to 85.4 in December. This drop was due to the fall in the ratio of people expecting better financial situation of household in the coming 12 months period.

Meanwhile, the general economic situation expectation index fell 9.5 percent to 86.02 in December from 95.06 in November. This fall indicates that number of consumers expecting a better general economic situation in the coming 12 months fell as compared to the earlier month.

The number of people unemployed expectation index also fell in the month to 65.42 in December, drop of 8.3 percent. This fall stemmed from the decrease in the ratio of people anticipating a decrease in the number of unemployed persons in the next 12 months. The possibility of saving index also fell in the month by 17.9 percent from 20.33 in November to 16.68 in December. This drop indicates that the possibility of saving of consumers in the coming 12 months period dropped as compared to the earlier month.