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.