Turkey's consumer confidence index down by 3.6 percent in August

Turkey's consumer confidence in August was down by 3.6 percent from the previous month, the Turkish Statistical Institute reported Friday.

The consumer confidence index, seen as a gauge for consumers' sentiment towards the economy for the next 12 months, dropped to 62.35 in August from 64.66 in July

The general economic situation expectation index led the decline, dropping 8 percent to 77.60 points and the financial situation expectation of household index saw a 2.3 percent loss to 86.17 points.

The number of people unemployed expectation index registered a small 0.4 percent decrease to 63.48 in the month

The probability of savings index also decreased by 0.2 percent and fell to to 22.16 in August, from 22.20 in July indicating that consumers had less expectation of saving money.

The growing prospect of an early election has created popular uncertainty, along with the depreciation of the Turkish lira against the dollar, according to economists.