Türkiye’s consumer confidence index declined in December, reflecting a more cautious outlook among households, the Turkish Statistical Institute (TurkStat) said in a statement on Friday.

According to TurkStat, the consumer confidence index fell by 1.8 percent month-on-month to 83.5 in December, down from 85.0 recorded in November. The index is calculated based on the results of the consumer tendency survey conducted jointly by TurkStat and the Central Bank of the Republic of Türkiye.

The consumer confidence index is a key indicator used to gauge households’ expectations regarding their financial situation, the general economic outlook, unemployment, and savings prospects. A reading below 100 indicates pessimism, while a figure above 100 signals optimism among consumers.

The latest data suggest that consumer sentiment weakened toward the end of the year, as households became more cautious about economic conditions and future expectations. (ILKHA)