Turkey’s consumer confidence falls to 55.8 points in September

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People walk in a long corridor lined by Turkish flags in a historic bazaar in the central Sultanahmet district of Istanbul on August 11, 2018. / AFP PHOTO / Yasin AKGUL

Turkey’s consumer confidence index fell to 55.8 points in September, after rising to 58.3 points in August, data from the Turkish Statistical Institute showed on Friday, Reuters reported.

The index in May hit 55.3 points, its lowest level since the data were first published in 2004. A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.

All sub-indices, except the savings probability index, dropped on a monthly basis in September, according to the Hürriyet Daily News.

The unemployment expectation index — a gauge of sentiment about the health of the labor market — saw the largest decline with a fall of 5.1 percent.

The household financial expectations index posted a monthly decline of 4.9 percent in September.

Attitudes about the general economic outlook went down 4.4 percent during the same period.

September’s savings probability index — indicating people’s expectation of earning enough money to save — increased 0.6 percent from last month.

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