Turkish consumer confidence falls in December

By Tuba Sahin

ANKARA (AA) - Turkish consumer confidence fell for the third consecutive month in December, according to the country’s statistical authority on Tuesday.

The consumer confidence index decreased to 68.9 this month, down 3.1% from 71.1 in November, TurkStat said in a statement.

The index is a vital gauge of the economy’s overall performance, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

All sub-indices deteriorated in the month with the financial situation expectation over the next 12 months weakening the most.

"The financial situation expectation of household index in the next 12-month period which was 68.9 in November decreased by 5.3% and became 65.2 in December," TurkStat said.

The financial situation of household index at present compared with last year slipped 3.6% to 54.1 in the month.

The general economic situation expectation index in the next 12-month period dropped 2.2% month-on-month to 66.7 in December.

"Assessment on spending money on durable goods index over next 12 months compared to the past 12-month period which was 91.4 in November decreased by 1.9% and became 89.6 in December," it said.

The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.​​​​​​​