Turkey: Consumer sentiment deteriorates in October
October 21, 2021
Consumer sentiment took a hit at the outset of the fourth quarter, with the consumer confidence index dropping to 76.8 in October from 79.7 in September. October’s result marked the lowest reading since March 2009, and the index remained entrenched below the neutral 100-threshold that separates pessimism from optimism among Turkish consumers.
The deterioration was broad-based. Consumers’ attitudes towards their financial situation at present dropped, while their views on their financial situation in the year ahead turned more pessimistic. Moreover, consumers’ views on the general economic climate in the next year became more downbeat, and their probability to purchase big-ticket items decreased.