Turkey Consumer Confidence August 2019

Turkey

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.

FocusEconomics Consensus Forecast panelists see private consumption contracting 3.3% in 2019 before expanding 2.9% in 2020.


Author:, Economist

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Turkey Consumer Confidence August 2019

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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