Turkey Consumer Confidence

Turkey

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.

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 August 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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