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UPDATE - Turkish consumer confidence keeps on improving in Nov.

UPDATE - Turkish consumer confidence keeps on improving in Nov.
Consumer confidence index reaches 59.9 this month, recovering from 57 last month


By Tuba Sahin

ANKARA (AA) - Turkish consumers' confidence in the economy increased for a second month in a row in November, according to the nation's statistical authority on Thursday.

The index hit 59.9 this month, a 5.2% gain from October following a 2.1% rise last month, the Turkish Statistical Institute (TurkStat) said.

The figure was 57 last month, up from 55.8 previous month.

The index value is jointly calculated by TurkStat and the Central Bank of Turkey through measurement of consumer tendencies.

Attitudes over the general economic outlook posted the largest improvement in the month, jumping 6.9% to 78.5, it said.

The financial situation expectation of household index surged 6.1% month-on-month to 79.3 in November.

The number of people unemployed expectation index, a gauge of sentiment about the health of the labor market, bettered by 3.6% from last month to 58.8.

The largest improvement among sub-indices was in the probability of saving index, which tracks attitudes to saving. The index saw a 13.1 percent or 2.74 points rise compared to the previous month.

However, the probability of saving index saw a weaker rise of 0.5%, well behind the improvements in other measurements.

The consumer confidence index is seen as a vital gauge of the overall health of the economy, indicating people's sentiments about spending their money, which in turn gives clues about economic vitality in the days to come.

source: News Feed
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