Turkey: Consumer sentiment jumps to highest level in over two years in April
April 28, 2014
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, jumped from 72.7 points in March to 78.5 points in April, which marks the highest point since March 2012. Despite the strong increase, consumer confidence remains firmly entrenched below the 100-point threshold that separates pessimistic from optimistic territory, which does not bode well for private consumption going forward.
According to the Statistical Institute, household's assessments regarding the general economic situation in the next 12 months improved notably over the previous month. In addition, April's survey showed that unemployment expectations, households' financial prospects and consumers' probability of saving in the next 12 months also gained ground.
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.2% in 2014, which is down 0.2 percentage points from last month's forecast. For 2015, the panel expects private consumption to grow 3.5%.