Turkey Consumer Confidence August 2017

Turkey

Turkey: Consumer confidence softens slightly in August

August 23, 2017

The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, eased marginally from 71.3 in July to 71.1 in August. As a result, the index is now further below the 100-point threshold that separates pessimism from optimism among Turkish households.

The August report showed a more pessimistic outlook regarding households’ ability to save, and the number of people who expected to be unemployed in the future increased following a strong decrease in July. These negative developments, however, were mostly offset by an improvement in consumers’ views on general economic conditions and an unchanged perception of their financial situation.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.9% in 2017, which is up 0.3 percentage points from last month’s forecast. For 2018, the panel expects private consumption to grow 3.0%.


Author:, Economist

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