Turkey: Consumer confidence moderates in March
April 18, 2011
In March, the consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, inched down to 93.4 points from 93.6 points in February. Consumer confidence has idled below the 100-point threshold that separates optimistic from pessimistic territory since May 2006. At the current level, consumer sentiment is 10.3% higher than in the same month the year before, suggesting that the recovery in private consumption will continue. The slight fall in consumer sentiment reflected greater pessimism regarding the economic situation over the next three months, which was fanned by deteriorating expectations concerning price increases over the next 12 months. In fact, consumers' more negative assessment partly reflects rising inflation and a slowdown in economic activity in March.