Turkey’s consumer confidence strengthened unexpectedly in October after falling sharply in the previous month, survey figures from Turkish Statistical Institute showed Thursday.
The consumer confidence index climbed notably by 7.3 percent to 62.8 in October from a 56-month low of 58.5 in September.
Economists had expected the index to fall to 55.5. Moreover, the latest reading was the strongest in three months.
The general economic situation expectation index improved to 80.87 in October from 72.04 in the preceding month. Similarly, the index measuring households’ financial expectations over the next twelve months increased to 86.58 from 82.08.
The number of people unemployed expectation index rose by 4.4 percent compared to the prior month and came in at 64.61 in October.
The probability of saving index, which indicates the possibility of saving of consumers in the next 12 months, climbed to 19.07 in October from 18.11 in September.
The material has been provided by InstaForex Company – www.instaforex.com