Turkey Consumer Confidence August 2016


Turkey: Consumer sentiment jumps to nine-month high in August

August 23, 2016

The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, rose from July’s 67.0 to 74.4 in August, which marked a nine-month high. Nevertheless, consumer confidence remains far below the 100-threshold that separates pessimistic from optimistic territory.

August’s increase reflected a broad-based improvement in all the main sub-components of the index. Consumer’s views regarding their expected economic situation in the next 12 months recorded the largest increase followed by job prospects in the coming 12 months. Households’ assessment about their probability of saving in the next 12 months as well as their financial situation in the next 12 months recorded milder gains.

FocusEconomics Consensus Forecast panelists see private consumption expanding 4.4% in 2016, which is up 0.4 percentage points from last month’s forecast. For 2017, the panel expects private consumption to grow 3.4%.

Author: Ricard Torné, Lead Economist

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Turkey Consumer Confidence Chart

Turkey Consumer Confidence August 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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