FX.co ★ Turkey Consumer Confidence Weakens In December

Turkish consumer confidence weakened at the end of the year on deteriorating general economic outlook, an official survey revealed Tuesday.

The consumer sentiment index dropped to 75.6 in December from 76.6 in the previous month, a survey conducted in cooperation with Turkish Statistical Institute and Central Bank of the Republic of Turkey showed.

A score below 100 indicates that pessimists outnumbered optimists.

Among the four sub-indices of consumer confidence, assessment of current financial situation dropped in December with the index sliding to 57.4 from 58.3 in November. The index for future financial situation of households came in at 75.4, down from 75.8 a month ago. The general economic situation expectations index also weakened in December, to 77.3 from 80.5. Meanwhile, the gauge measuring spending money on durable goods over the coming year rose to 92.6 from 91.9.