Turkey Consumer Confidence

Turkey

Turkey: Consumer sentiment falls to lowest level since January 2009

September 21, 2015

The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, fell from August’s 62.4 points to 58.5 points in September. The figure marks the lowest reading since January 2009 and comes against a backdrop of increased political uncertainty and a deteriorating security situation in Turkey. As a result, consumer confidence still remains far below the 100-point threshold that separates pessimistic from optimistic territory.

September’s fall came on the back of a broad-based decline in the index. Consumers were more pessimistic regarding unemployment, their financial and their economic situations in the next 12 months. In addition, consumers’ views on their probability of savings in the next 12 months deteriorated in September compared to August.

FocusEconomics Consensus Forecast participants expect private consumption to rise 2.9% in 2015, which is unchanged from last month’s estimate. The panel sees private consumption increasing 3.1% in 2016.


Author: Angela Bouzanis, Senior Economist

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Turkey Consumer Confidence September 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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