Turkey: Consumer confidence ticks up from record-low in June
June 20, 2019
Sentiment among Turks remained deeply rooted in pessimism despite a rise in the consumer confidence index from 55.3 in May to 57.6 in June; May had marked the lowest point since the survey began in 2004. Consequently, the index remained below the neutral 100-point mark that separates optimism from pessimism.
The uptick in June came on the back of a broad-based improvement. Turkish households turned less downbeat on their expected financial situation, while their outlook on the general economic situation was also less negative. Subsequently, households’ probability to save increased and the views on the labor market were unchanged from the prior month.
Author: Jan Lammersen, Economist