Turkey: Consumer sentiment drops in April
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.