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Turkey Consumer Confidence August 2019

Turkey: Consumer confidence drops to four-month low in September

Confidence among Turkish consumers fell to a four-month low 55.8 in September, down from 58.3 in August. The index consequently moved further south of the 100-threshold that separates optimism from pessimism.

The fall in sentiment in September was driven by a worsening outlook on the financial situation of households in the year ahead as well as the general economic situation in the 12 months ahead. The latter seemingly contrasts market analysts’ expectations that the worst of the economic crisis in Turkey has passed. Moreover, consumers expect unemployment to pick up in the coming year, linked to the deteriorating views on the economic situation. On the other hand, Turks’ probability to save was virtually unchanged from the prior month.

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