Turkey Consumer Confidence

Turkey

Turkey: Consumer sentiment falls in April

May 21, 2015

The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, fell from April’s 65.4 points to 64.3 points in May, which marked the lowest level in over six years. As a result, consumer confidence is further below the 100-point threshold that separates pessimistic from optimistic territory.

May’s decrease was a result of an almost across-the-board deterioration. Consumers were more pessimistic regarding their economic situation and probability of saving in the next 12 months. In addition, consumers were more worried about unemployment compared to the previous month. Conversely, consumers’ attitudes were unchanged regarding their financial situation in the next 12 months.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.5% in 2015, which is down 0.2 percentage points from last month’s estimate. The panel sees industrial output increasing 4.5% in 2016.


Author: Angela Bouzanis, Senior Economist

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Turkey Consumer Confidence May 2015

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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