Turkey: Consumer sentiment recovers ground in September
September 29, 2014
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, rose slightly from 73.2 points in August to 74.0 points in September, which marked the highest level since May. That said, consumer confidence remains firmly entrenched below the 100-point threshold that separates pessimistic from optimistic territory, and this does not bode well for private consumption going forward.
September’s increase reflected improving expectations in households’ assessment regarding the general economic situation in the coming 12 months and, to a lesser extent, better job prospects. Consumers’ probability of saving in the next 12 months improved mildly, while households’ views on their financial situation in the next 12 months was the sole indicator that lost ground in September.