Turkish joblessness rises, consumer optimism falls

Mon Nov 17, 2008 5:06 AM EST
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ANKARA — Turkey's economy felt the impact of the global financial crisis as official figures released Monday showed consumer optimism plummeting and unemployment rising.

Consumer confidence slumped 8 percent in October — to 74.24 points on the official index — while the jobless rate rose to 9.8 percent in August from last year's 9.2 percent, the Turkish Statistics Institute said Monday.

The number of unemployed people in Turkey is now 2.43 million, the institute said.

Prime Minister Recep Tayyip Erdogan signaled in Washington over the weekend that Turkey may be close to reaching a deal with the International Monetary Fund to receive funds in case of an emergency.

Turkey has been holding talks with the fund for a potential precautionary standby loan to partly address market worries, while also trying to convince the IMF to loosen conditions for such a deal.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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