Turkey Consumer Confidence May 2020

Turkey

Turkey: Consumer confidence ticks up in May

May 20, 2020

Consumer confidence ticked up in May despite the coronavirus, with the consumer confidence index rising to 59.5 from 54.9 in April. Although the print marked a six-month high, the index remained firmly entrenched below the neutral 100-mark that separates pessimism from optimism.

The uptick in May reflected improving views on the financial situation of households in the year ahead, underpinned by a less negative assessment of the economic situation in the same period. Consequently, views on the labor market improved. Furthermore, consumers’ probability of saving in the year ahead increased somewhat.

FocusEconomics Consensus Forecast panelists see private consumption decreasing 2.2% in 2020 and increasing 5.4% in 2021.


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Turkey Consumer Confidence May 20 20

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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