Turkey Consumer Confidence June 2020

Turkey

Turkey: Consumer confidence hits highest reading in over a year in June

June 22, 2020

Consumer confidence rose to 62.6 in June from May's 59.5. June's result marked the best performance since April 2019. As such, the index moved closer to, but remained firmly below, the 100-threshold which separates pessimism from optimism among consumers.

The uptick in the headline figure was driven by less downbeat views on the general economic situation in the country in the year ahead, which underpinned less pessimistic views on the labor market in the same time period. Moreover, consumers’ assessment of their financial situation turned slightly less sour, while their probability of saving over the next 12 months inched up.

FocusEconomics Consensus Forecast panelists see private consumption decreasing 3.1% in 2020 and increasing 5.3% in 2021.


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Turkey Consumer Confidence June 20 20

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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