Turkey Consumer Confidence May 2022

Turkey

Turkey: Consumer sentiment drops in April

May 23, 2022

Consumer sentiment rose to 67.6 in May from April’s 67.3. However, the index remained entrenched below the neutral 100-threshold that separates pessimism from optimism among Turkish consumers.

The headline uptick reflected less downbeat views on households’ financial situation at present and general economic expectations for the year ahead. On the other hand, consumers’ views regarding their financial situation over the next 12 months soured, likely driven by currency weakness and red-hot inflation. Moreover, the probability of purchasing big-ticket items in the next 12 months worsened as well.

FocusEconomics Consensus Forecast panelists see private consumption expanding 4.4% in 2022 and increasing 3.7% in 2023.


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Turkey Consumer Confidence May 2022

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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