Turkey Consumer Confidence February 2016

Turkey

Turkey: Consumer sentiment loses further ground in February

February 19, 2016

The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, receded from January’s 71.6 points to 66.6 points in February. February’s four-month low continues to reflect rising concerns about the ongoing struggle against Kurdish militants in the southeast of the country and rising geopolitical threats. Consumer confidence remains far below the 100-point threshold that separates pessimistic from optimistic territory.

February’s result came on the back of a broad-based deterioration as all the components of the index lost ground over the previous month. Consumers were much more pessimistic regarding both their economic situation in the next 12 months and their job prospects. Moreover, households were more pessimistic about their financial situation in the next 12 months as well as their probability of savings in the next 12 months.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.4% in 2016, which is up 0.3 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 February 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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