Turkey: Consumer confidence remains on upward trend
April 17, 2012
In March, the consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank rose to 93.9 points, up from 93.2 points in February, in what marks the fifth consecutive month of improving consumer sentiment. That said, consumer confidence still remains below the 100-point threshold that separates optimistic from pessimistic territory, where it has idled since May 2006. At its current level, the index is now 0.5% higher than in the same month last year. According to the Statistical Institute, the increase in the consumer confidence index stemmed from an improvement in consumers' assessments concerning purchasing power in the present and in the next six months, as well as better job opportunities in the six months. Low levels of consumer confidence do not bode well for private consumption going forward.