Turkey: Consumer confidence ticks up slightly in June but remains in negative territory
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, rose from 69.9 in May to 70.3 in June. However, the index remained below the 100-point threshold that separates pessimism from optimism among Turkish households. Despite a huge injection of fiscal stimulus over the last year and robust economic growth, consumer sentiment is still slightly worse than it was 12 months ago.
June’s uptick was driven by consumers’ less pessimistic views regarding the labor market, general economic conditions and their personal financial conditions. On the other hand, consumers grew gloomier about their ability to save.