Turkey Consumer Confidence

Turkey

Turkey: Consumer sentiment falls to six-year low in March

March 23, 2015

In March, the consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, fell from February’s 68.1 points to 64.4 points. The result marked the lowest level in six years. As a result, consumer confidence is further from the 100-point threshold that separates pessimistic from optimistic territory.

March’s decrease was a result of a broad-based deterioration. Consumers were more pessimistic regarding their financial and economic situation in the next 12 months. In addition, consumers were more worried about unemployment compared to the previous month.

FocusEconomics Consensus Forecast participants expect industrial production to rise 4.0% in 2015, which is unchanged from last month’s estimate. The panel sees industrial output increasing 4.6% in 2016.


Author: Angela Bouzanis, Senior Economist

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Turkey Consumer Confidence March 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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