Turkey Consumer Confidence


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.

FocusEconomics Consensus Forecast panelists see private consumption expanding 1.1% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects private consumption to grow 3.0%.

Author: Ricard Torné, Lead Economist

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Turkey Consumer Confidence Chart

Turkey Consumer Confidence May 2014 0

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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