Turkey’s consumer confidence in October slipped compared to last month, according to data released by the country's statistical authority on Thursday.
The consumer confidence index is a vital gauge of the economy's overall performance, indicating people's sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.
The index was 76.8 this month, with a decline of 3.6% from September, the Turkish Statistical Institute (TurkStat) said in a statement.
All sub-indices deteriorated in the month with the general economic situation expectation worsening the most.
The general economic situation expectation index for the next 12 month period dropped 6.4% month-on-month to 74.2 in October.
The financial situation expectation index fell 4.4% to 75.6 in October, while the index for the financial situation of households went down by 3% to 60.7.
"Assessment on spending money on the durable goods index over the next 12 months compared to the past 12 month period, which was 97.7 in September, decreased by 1.1% and became 96.6 in October," it said.
The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.
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