Turkey: Consumer confidence remains steady
May 16, 2011
In April, the consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, inched up to 93.5 points, which was virtually unchanged from 93.4 points in March. Consumer confidence has idled below the 100-point threshold that separates optimistic from pessimistic territory since May 2006. Nevertheless, at the current level, consumer sentiment is 8.9% higher than in the same month the year before, suggesting that private consumption will remain strong. The slight improvement in consumer sentiment reflected greater optimism regarding current purchasing power and the general economic situation over the next three months. That said, confidence among consumers about purchasing durable consumer goods remained unchanged over the previous month.