Turkish consumer sentiment index falls in November

Turkish consumer sentiment index dropped in the month of November on a sequential basis. The Turkish Statistical Institute showed that the consumer confidence index dropped 3.2 percent from 67.3 in October to 65.2 in November.

The financial situation expectation of household index dropped 2.8 percent sequentially to 84.6 in November. The drop was driven by the rise in consumers expecting deterioration in their household’s financial situation in the next 12 months period.

Meanwhile, the general economic situation expectation index also dropped in the month by 3.7 percent to 87.1 in the month. The decline was due to the rise in number of consumers expecting a worse general economic situation in the next 12 months.

On the other hand, the number of people unemployed expectation index rose 0.1 percent to 70.95 in November. The rise stemmed from the increased number of people expecting a decrease in the number of unemployed persons in the next 12 months.

Meanwhile, the probability of saving index dropped 14.4 percent to 18 in November. This fall stemmed from the increased number of consumers who expressed no probability of saving for the next 12 months period.

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