Turkey Consumer Confidence

Turkey

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.

FocusEconomics Consensus Forecast panelists see private consumption expanding 1.1% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects private consumption to grow 3.0%.


Author: Ricard Torné, Head of Economic Research

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Turkey Consumer Confidence June 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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