Turkey Consumer Confidence

Turkey

Turkey: Consumer sentiment inches up in July

July 31, 2014

The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, inched up from 73.7 points in June to 73.9 points in July. Consumer confidence is still firmly entrenched below the 100-point threshold that separates pessimistic from optimistic territory, and this does not bode well for private consumption going forward.

July’s improvement reflected improving expectations in consumers’ probability of saving in the next 12 months and a small increase in households’ expected financial situation in the next 12 months. Conversely, households’ assessments regarding the general economic situation in the coming 12 months and job prospects recorded sizable drops.

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, Lead Economist

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Turkey Consumer Confidence Chart


Turkey Consumer Confidence July 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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