The index, which is calculated by conducting computer-based “Consumer Tendency Surveys” with individuals above the age of 15 who at the time of the survey are participating in the economy, is carried out on a monthly basis by TurkStat in cooperation with the Central Bank of Turkey. If the index is above 100, it indicates that consumers have an optimistic outlook, while an index below 100 reveals that consumers have a pessimistic outlook.
The index fell by 1.46 points from September to October, a fall that is in line with the decreasing trend since June of this year. Moreover, the index’s subcategories reveal that the biggest cause of the drop was the decrease in consumers’ self-perceived ability to purchase durable consumer goods in the next quarter, dropping from 14.44 in September to 11.86 in October, a 17.83 percent drop. Moreover, the present expectations for purchasing power dropped 1.52 percent to 74.02. The largest increase in consumer confidence was seen in consumers’ willingness to spend on home renovations in the coming quarter -- an increase of 3.02 percent compared to September.
