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.