Turkey Consumer Confidence

Turkey

Turkey: Consumer sentiment stable in January

January 22, 2015

In January, the consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, was stable at December’s 67.7 points. This had marked the lowest level since January 2010. As a result, 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.

January’s result reflected consumers’ less optimistic view regarding their financial and economic situation in the next 12 months. Conversely, households’ probability of saving in the next 12 months improved over December. In addition, consumers were less worried about unemployment compared to the previous month.

FocusEconomics Consensus Forecast participants expect industrial production to rise 4.0% in 2015, which is unchanged from last month’s estimate. The panel sees industrial output increasing 4.6% in 2016.


Author: Angela Bouzanis, Senior Economist

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Turkey Consumer Confidence January 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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