Turkey: Consumer sentiment falls to five-month low in August
August 28, 2014
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, declined from 73.9 points in July to 73.2 points in August, which marked the lowest level since March. As a result, consumer confidence remains firmly entrenched below the 100-point threshold that separates pessimistic from optimistic territory, and this does not bode well for private consumption going forward.
August’s decline reflected deteriorating job prospects and lower expectations in consumers’ probability of saving in the next 12 months. Conversely, households’ assessments regarding the general economic situation in the coming 12 months and consumers’ expected financial situation in the next 12 months gained ground in August.