Turkey Consumer Confidence November 2022

Turkey

Turkey: Consumer confidence improves in November

November 22, 2022

Consumer confidence came in at 76.6 in November, up from October's 76.2. November's result marked the strongest sentiment since October 2021. Despite the uptick, the index remained below the 100-threshold, indicating pessimism among consumers.

The headline improvement was driven by less downbeat views regarding households’ current financial situation and the general economic situation in the year ahead. That said, household’s views on their future financial situation and big ticket purchases deteriorated.

FocusEconomics Consensus Forecast panelists see private consumption rising 1.6% in 2023, which is down 0.3 percentage points from last month’s forecast. In 2024, our panel sees household spending increasing 2.0%.


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Turkey Consumer Confidence November 2022

Note: Consumer Confidence Index. Values above 100 indicate an optimistic outlook while values below 100 indicate a pessimistic outlook.
Source: Turkish Statistical Institute (TurkStat).


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