Turkey: Consumer sentiment falls again in June
June 27, 2014
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, fell from 76.0 points in May to 73.7 points in June, which marked the lowest print in three months. Consumer confidence is still firmly entrenched below the 100-point threshold that separates pessimistic from optimistic territory, which does not bode well for private consumption going forward.
The deterioration was broad-based as all of the sub-categories that make up the index deteriorated over the previous month. Households’ assessments regarding the general economic situation in the next 12 months recorded the sharpest loss. Consumers’ probability of saving in the next 12 months and households’ expected financial situation in the next 12 months also recorded sizable drops.