Turkey: Consumer confidence deteriorates slightly in October
November 23, 2010
In October, the consumer confidence index published by the Statistical Institute in cooperation with the Central Bank slid from 90.4 points in September to 89.0 points. Thus, the index fell further below the 100-point threshold that separates optimistic from pessimistic territory but confidence is 10.6% higher than in October last year, suggesting that the recovery of private consumption remains in place. The deterioration in consumer sentiment was mostly driven by a more pessimistic assessment of consumers' purchasing power in the present and in the future. Moreover, survey respondents were also less upbeat regarding the current general economic situation and the outlook for the next three months.