Turkey Consumer Confidence July 2017

Turkey

Turkey: Consumer confidence rises in July

July 20, 2017

The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, rose from 70.0 in June to 71.3 in July. Despite the improvement in consumer sentiment, the index remains below the 100-threshold that separates pessimism from optimism among Turkish households.

The July report showed positive developments in the outlook on the financial situation of households as well as the probability of saving. In addition, the expectation for the number of people that will be unemployed was less pessimistic than last month. However, households’ perspectives on general economic conditions were more pessimistic and experienced back-to-back deterioration.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.6% in 2017, which is up 0.7 percentage points from last month’s forecast. For 2018, the panel expects private consumption to grow 3.0%.


Author:, Economist

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Turkey Consumer Confidence July 2017

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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