TODAY’S – December consumer confidence drops to 4-year low

December consumer confidence drops to 4-year lowTurkeyand#39s consumer confidence index for the month of December fell to 67.7 points, a four-year low, according to figures released by the Turkish Statistics Institute (TurkStat) on Tuesday.

The index dropped 13 percent from 68.7 points in November, which was a decline from 70.

3 in October A score of 100 or above reflects a positive outlook while a score below 100 indicates a negative one, suggesting that consumer confidence in Turkey is clouded in pessimism The index declined throughout the year after reaching a high of 78.5 points in April.

Meanwhile, the index of the probability of saving dropped 7 percent from 24.7 in November to 23 this month, indicating that consumers believe they will be less likely to set money aside.

On a more positive note, the financial situation expectation index, which pertains to how one perceives the overall financial situation of their household, slightly inched up by 03 percent, while the general economic situation expectation index went up 14 percent.

SOURCE: Today’s Zaman