Turkey Consumer Confidence


Turkey: Consumer sentiment declines to nearly five-year low in December

December 30, 2014

The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, tumbled from 68.7 points in November to 67.7 points in December, which marked the lowest level since January 2010. Consequently, consumer confidence remains firmly entrenched below the 100-point threshold that separates pessimistic from optimistic territory, and this does not bode well for private consumption going forward.

December’s drop reflected worsening job prospects and, to a lesser extent, deteriorating expectations regarding households’ probability of saving in the next 12 months. Conversely, consumers’ assessment on their financial situation in the next 12 months and the expected economic situation in the coming 12 months improved in December.

FocusEconomics Consensus Forecast participants expect industrial production to rise 4.0% in 2015, which is unchanged from last month’s estimate. The panel sees industrial output increasing 4.6% in 2016.

Author: Ricard Torné, Lead Economist

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Turkey Consumer Confidence Chart

Turkey Consumer Confidence December 2014

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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