Turkish consumer confidence drops to lowest this year

Turkey's consumer confidence fell for the fourth-straight month to its lowest level this year, as inflation accelerated and the lira continued its slide against the dollar.

The Consumer Confidence Index declined to 65.2 in November from 67.3 the previous month, the statistics office said in a report on Wednesday. Confidence had peaked for the year at 72.8 in May.

Expectations for employment, the economic situation and household finances all deteriorated. The probability that consumers will save also fell, the agency said.

The index measures confidence within the range of 0-200, with a figure of above 100 indicating an optimistic outlook.



Consumer confidence index
Monthly consumer confidence 2016-2017 (Source: Turkish Statistical Institute)