Turkey: Consumer sentiment recovers from September's multi-year low
October 22, 2015
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, rose from September’s 58.5 points to 62.8 points in October. September’s figure had marked the lowest reading since January 2009 amid increased political uncertainty and a deteriorating security situation in Turkey. Despite October’s rise, consumer confidence still remains far below the 100-point threshold that separates pessimistic from optimistic territory.
October’s result came on the back of a broad-based improvement in the index. Consumers were less pessimistic regarding unemployment, their financial and their economic situations in the next 12 months. In addition, consumers’ views on their probability of savings in the next 12 months improved in October compared to September.