Turkey Consumer Confidence


Consumer confidence plunges to lowest level in more than two years

In October, the consumer confidence index published by the Statistical Institute in cooperation with the Central Bank fell to 85.7 points, down from the 88.8 points recorded in October. The figure marks the lowest level seen since March 2010. As a result, consumer confidence dropped further below the 100-point threshold that separates optimistic from pessimistic territory, where it has idled since May 2006. Moreover, at its current level, the index is now 4.0 points below the level observed in the same month last year. According to the Statistical Institute, the drop in consumer confidence stemmed from a deterioration in consumers' assessment regarding the economy in the next three months. In addition, respondents to the survey had a more pessimistic assessment regarding their purchasing power in both the present period as well as in the next six months.

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Turkey Consumer Confidence Chart

Turkey Consumer Confidence October 2012

Note: Consumer Confidence Index. Values above 100 indicate an optimistic outlook while values below 100 indicate a pessimistic outlook.
Source: Turkish Statistical Institute (TurkStat).

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