Turkey: Consumer confidence eases in June
June 22, 2017
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, dipped from a seven-month high of 72.8 in May to 70.0. The deterioration in consumer sentiment puts the index further below the 100-threshold that separates pessimism from optimism among Turkish households.
The June report showed deteriorations across all sub-components of the index. After rising above the 100-threshold last month for the first time since October 2016, consumers’ views regarding the general economic situation decreased again in June. Consumers’ perspectives on their financial situation and the probability of saving also deteriorated, while the number of people expecting better job prospects declined markedly after rising last month.
Author: David Ampudia, Economist