Turkey’s consumer confidence index falls 5 percent in October

ANKARA

Turkey’s consumer confidence index decreased in October, following drops in most sub-indices, data from the Turkish Statistics Institute (TÜİK) has shown.

The consumer confidence index fell to 70.3 in October, a drop of 4.9 percent from the previous month.

Consumers’ expectations on the general economic situation of the country in the upcoming year also deteriorated, with the corresponding index declining to 91.3 in October from 102.1 in September.

Meanwhile, the index of expectations about the number of unemployed people in Turkey in the upcoming year decreased by 6.3 percent over the month to 73.7 in October, suggesting a better view. The future savings probability index also improved to 26.1 from 23.9 in the previous month.