Turkey Consumer Confidence Index Drops 7.7 Percent in October
Turkey's consumer confidence index fell to 84.8 in October, reflecting a pessimistic outlook across household finances and general economic expectations.
The Turkish Statistical Institute and the Central Bank of the Republic of Turkiye reported that the consumer confidence index fell 7.7 percent month-on-month to 84.8 in October. This decline follows a slight 1.3 percent increase in September, when the index stood at 91.9.
All major sub-indices showed a downward trend. The index measuring current household financial situations dropped 9.3 percent, while expectations for the general economic situation over the next 12 months decreased by 9 percent. Additionally, expectations for household financial situations fell 7.7 percent, and the assessment of spending on durable goods declined 5.6 percent.
With the index measured on a scale from 0 to 200, the October reading of 84.8 indicates a pessimistic outlook among Turkish consumers regarding their financial stability and the broader economy.
