Turkey: Consumer confidence shoots up to eight-month high in January
January 23, 2018
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, rose to an eight-month high of 72.3 in January, up from 65.1 in December. While this was the sharpest month-on-month rise since August 2016, the index nevertheless remains entrenched below the 100-point threshold that separates pessimism from optimism among Turkish households.
The survey showed confidence among households improved for all sub-components of the index. The uptick in consumers’ expectations of the general economic outlook was especially strong, echoing a large improvement in households’ expectations of their own financial situations. The employment outlook was also more upbeat than in December, and a larger proportion of consumers expected to be able to save money in the next 12 months.
Turkey Private Consumption Forecast
FocusEconomics Consensus Forecast panelists see private consumption expanding 3.2% in 2018, which is unchanged from last month’s forecast. For 2019, the panel expects private consumption to grow 3.3%.
Author: Joffrey Simonet, Economist