Turkish consumer confidence falls to 65.2 points in November, lowest in 2017

ANKARA

Turkish consumer confidence fell to 65.2 points in November, the lowest level this year and down from 67.3 points a month earlier, data from the Turkish Statistics Institute (TÜİK) showed on Nov. 22.

The current level of confidence reflects a pessimistic outlook. A level above 100 indicates optimism.

The last time the index - which is calculated from the results of the consumer tendency survey carried out jointly by the TÜİK and the Central Bank - saw such a low level was back in December 2016.

The consumer confidence index reached its highest level this year in May, hitting 72.8 after a gradual increase month by month from February.

However, consumer morale has been steadily decreasing since August.