Turkey Consumer Confidence March 2016

Turkey

Turkey: Consumer sentiment recovers slightly in March

March 21, 2016

The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, improved from February’s four-month low of 66.6 to 67.0 in March. Nevertheless, consumer confidence remains far below the 100-threshold that separates pessimistic from optimistic territory.

March’s result came on the back of a strong improvement in job prospects and, to a lesser extent, in households’ financial situation in the next 12 months. On the downside, consumers were much more pessimistic regarding their economic situation in the next 12 months. Finally, regarding households’ probability of savings in the next 12 months, the result did not change from last month.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.4% in 2016, which is up 0.3 percentage points from last month’s forecast. For 2017, the panel expects private consumption to grow 3.5%.


Author: Ricard Torné, Head of Economic Research

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Turkey Consumer Confidence March 2016

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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