Turkey: Consumer sentiment drops to 14-month low in December
December 26, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, dropped from 68.9 in November to 63.4 in December, the lowest reading since October 2015. The index remains far below the 100-threshold that separates pessimistic from optimistic territory.
December’s deterioration reflected consumers’ less optimistic views regarding the general economic situation in the next 12 months. Moreover, households’ assessment of their financial situation in the next 12 months deteriorated and their view on the probability of saving hit the lowest level on record.
Author: Dirina Mançellari, Senior Economist