Turkey: Consumer confidence deteriorates in March
March 20, 2018
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, declined to 71.3 in March from 72.3 in February. The index remains entrenched below the 100-point threshold that separates pessimism from optimism among Turkish households.
March’s drop was largely due to a sharp deterioration in consumers’ appraisal of the job market in the next 12 months and their more pessimistic outlook regarding the general economic situation compared to in February. Despite an improved assessment of their current financial situations from the previous month, consumers’ views regarding their future financial conditions were was less upbeat. Households’ expectations on their ability to save in the next 12 months, however, slightly improved slightly from February.
Turkey Private Consumption Forecast
FocusEconomics Consensus Forecast panelists see private consumption expanding 3.6% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel expects private consumption to grow 3.3%.
Author: Javier Colato, Economist