Turkey Consumer Confidence

Turkey

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.

FocusEconomics Consensus Forecast participants expect private consumption to rise 3.3% in 2015, which is up 0.4 percentage points from last month’s estimate. The panel sees private consumption increasing 2.8% in 2016, which is down 0.3 percentage points from last month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Turkey Consumer Confidence October 2015

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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