The consumers’ confidence index dropped to 68.9 in November, recording a -6.9& compared to the previous month. The index recorded a sharp increase after the parliamentary elections of November 2015, with a 23% increase on a one-year basis.

According to the Chief Economist of Finansbank, the worsening of financial indicators, particularly the constant weakening of the Turkish pound, are the main reasons for the drop in the confidence index.

The economist added that the index was resilient compared to other preliminary indicators in the last few months. Afterwards, it increased by 11% in August, remained stable in the following months, until the growth of loans and industrial production showed some signals of decline.

The unemployment expectations index dropped to 71.3 (-7.6% compared to the previous month).

Also the indicator that measures the expectations on the internal financial situation of the country decreased by 5.4% in October, reaching 89.01.


Source: medNews