Turkish consumer confidence down in October

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's consumer confidence in October continued its downward trend, falling slightly to 83.6 points, according to official data released on Thursday.

The consumer confidence index dropped 0.3% or 0.3 points from a month ago in October, the Turkish Statistical Institute (TurkStat) said.

This followed a 0.4-point monthly decline in September, when the index was at 83.9 points.

The sub-index measuring households' current financial situation was down 0.1% in October from a month ago, while household financial situation expectations for the next 12 months rose 0.2%.

The index tracking spending on durable goods over the next 12 months dropped 1.6% month-on-month in October.

Meanwhile, expectations for the general economic situation for the next 12 months rose 0.7% in the same period.

The consumer confidence index serves as a key indicator of the economy's overall health, capturing public sentiment regarding financial conditions, the broader economic outlook, and spending and saving intentions.