Consumer Confidence in Turkey Fell to a Record Low in December

Turkish consumer confidence fell 3.1 percent to 68.9 points in December, official data showed on Tuesday, hitting its lowest level since records began in 2004.

Confidence fell to its lowest level last year due to the Coronavirus pandemic, before the rally that began in October of this year. A confidence index below 100 points reflects pessimistic expectations, while a reading above 100 indicates optimism.

In November, consumer confidence fell to 71.1 points from 76.8 points the previous month, according to data from the Turkish Statistical Institute.