In May, the consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, dropped to 92.9 pointsfrom 93.5 points in April. Consumer confidence has idled below the 100-point threshold that separates optimistic from pessimistic territory since May 2006. Nevertheless, at the current level, consumer sentiment is 7.2% higher than in the same month the year before and suggests a recovery in consumer confidence, which bodes well for private consumption going forward. Consumer sentiment decreased as short-term expectations regarding households' purchasing power and the general economic situation, deteriorated over the previous month. As a consequence, prospects for purchases of durable goods dropped strongly compared to April.
Turkey Consumer Confidence
Consumer confidence drops in May
June 16, 2011
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Turkey Economic News
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