Turkey: Consumer sentiment bounces back in November
December 17, 2012
In November, the consumer confidence index published by the Statistical Institute in cooperation with the Central Bank rose to 89.2 points, up from the 85.7 points recorded in October. Despite the improvement, consumer confidence remains below the 100-point threshold that separates optimistic from pessimistic territory, where it has idled since May 2006. Moreover, at its current level, the index is now 1.9 points below the level observed in the same month last year.
According to the Statistical Institute, the increase in consumer confidence stemmed from an improvement in consumers' assessments regarding their purchasing power in both the present period and in the next six months, as well as from a better general economic situation in the next three months.
Low levels of consumer confidence do not bode well for private consumption going forward