Turkey

Turkey's consumer confidence index at 55.8 pts in Sept

Consumer confidence in Turkish economy drops 4.3% this month, says TurkStat statement

Tuba Sahin   | 20.09.2019
Turkey's consumer confidence index at 55.8 pts in Sept

ANKARA

The consumer confidence index stood at 55.8 points in September, according to the Turkish Statistical Institute (TurkStat) on Friday.

Consumer confidence in Turkish economy this month fell 4.3% from August, TurkStat said in a statement.

All sub-indices, except the probability of saving index, dropped on a monthly basis in September.

The number of people unemployed anticipation index -- a gauge of sentiment about the health of the labor market -- saw the largest decline with a fall of 5.1%.

The financial situation expectations of households index posted a monthly fall of 4.9% in September.

Attitudes over the general economic outlook went down 4.4% during the same period.

September's probability of saving index -- indicating people’s expectation of earning enough money to save -- increased 0.6% from last month.

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

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.

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