Turkey: Consumer confidence edges higher in March
Consumer confidence inched up in Turkey from 57.3 in February to 58.2 in March. The index, consequently, remained firmly entrenched below the neutral 100-mark that separates pessimism from optimism among households.
The uptick in March was driven by improved views on the expected financial situation over the next 12 months, which also translated into less pessimistic views on the labor market in the year ahead. On the other hand, consumers’ probability of saving over the next 12 months decreased, likely due to the Central Bank’s strong easing cycling that has made saving an unattractive alternative, with real interest rates falling deeper into negative territory. Moreover, consumers grew more pessimistic about the general economic situation.