Turkey: Consumer sentiment recedes in May after reaching a two-year high in April
May 27, 2014
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, fell from 78.5 points in April to 76.0 points in May. April’s print marked the highest point since March 2012. As a result, 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.
The deterioration was broad-based as all but one of the sub-categories deteriorated over the previous month. Households’ assessments regarding the general economic situation in the next 12 months recorded the sharpest loss, followed by unemployment expectations. Households’ probability of saving in the next 12 months was the sole category that was unchanged.