Turkey: Consumer confidence improves marginally in August, but remains mired in pessimistic territory
August 22, 2019
Sentiment among Turkish consumers improved slightly in August after dropping to a near-record low in July, with the consumer confidence index rising to 58.3 in August from 56.5. As a result, the index inched closer the neutral 100-point mark, but remained deeply entrenched in pessimistic territory.
August’s uptick was due to consumers’ less pessimistic assessment of the economic outlook and their financial situation. Moreover, households held less negative expectations for the labor market in August and their probability of saving improved.
Author: Jan Lammersen, Economist