Turkey Consumer Confidence May 2018

Turkey

Turkey: Consumer confidence declines in May

April 20, 2018

The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, fell from 71.9 in April to 69.9 in May. As a result, the index moved further below the 100-point threshold that separates pessimism from optimism among Turkish households.

May’s fall was driven by a broad-based worsening in all the sub-indicators. Consumers grew more pessimistic regarding their expected financial situation, the expected general economic situation, labor market dynamics and their ability to save. The slide in the index could have been driven in part by volatility in the foreign exchange market and uncertainty in the runup to elections set for 24 June.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2018 at 3.8% and 2019 at 3.5%.


Author:, Economist

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Turkey Consumer Confidence May 2018

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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