Consumer Confidence marginally down in October

Consumer confidence in Turkey marginally eased in October compared with the previous month as the seasonally adjusted confidence fell to 81.9 this month from 82 in September.

The outlook among households for the general economic situation  worsened to 81.4 in October from 83.3 in September while the consumers’ propensity to buy consumer goods over the next 12 months rose to 97.4 from 93.8. A sub index reflecting the present financial situation of households fell to 69.4 in October from 71.8 last month. Expectations among consumers for their financial position over the next 12 months improved to 79.5 from 79.1.  

The details of the data show no major change compared to September despite the rise in the interest rates and TL’s continuing slide.  The Index is unlikely to weaken further as the government’s efforts to boost economic recovery through domestics consumptions has come to its end.