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.