Turkey Consumer Confidence May 2016

Turkey

Turkey: Consumer sentiment hits a four-month high in May

May 23, 2016

The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, improved from April’s 68.5 to 68.8 in May. While the index hit a four-month high, consumer confidence remains far below the 100-threshold that separates pessimistic from optimistic territory.

May’s result came on the back of a sharp improvement in consumers’ view of the economic situation in the next 12 months. On the other hand, households’ probability of savings in the next 12 months recorded a sizeable deterioration, while job prospects receded timidly. Households’ financial situation in the next 12 months was unchanged in May.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.8% in 2016, which is up 0.2 percentage points from last month’s forecast. For 2017, the panel expects private consumption to grow 3.5%.


Author: Ricard Torné, Lead Economist

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Turkey Consumer Confidence May 2016

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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