Turkish consumer confidence down in October

ISTANBUL

Türkiye's consumer confidence in October continued its downward trend, falling slightly to 83.6 points, according to official data released on Oct. 23.

The consumer confidence index dropped 0.3 percent or 0.3 points from a month ago in October, the Turkish Statistical Institute (TÜİK) 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 percent in October from a month ago, while household financial situation expectations for the next 12 months rose 0.2 percent.

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

Meanwhile, expectations for the general economic situation for the next 12 months rose 0.7 percent 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.