Turkey: Consumer confidence picks up in September
October 17, 2011
In September, the consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, rose to 93.7 points from 91.7 points in August. Consumer confidence has idled below the 100-point threshold that separates optimistic from pessimistic territory since May 2006. Nevertheless, at the current level, the index is still 3.6% higher than in the same month the year before. Consumer sentiment increased as short-term expectations regarding households' purchasing power and the general economic situation improved over the previous month. In addition, employment expectations in the next six months recovered notably. As a consequence, prospects for purchases of durable goods rose compared to August.