Turkey: Consumers become less pessimistic in April
April 22, 2019
Consumer confidence in Turkey rose from 59.4 in March to 63.5 in April, marking the highest reading since August last year. The index remained far removed from the neutral 100-point mark, however. March’s uptick in the headline figure came on the back of a broad-based improvement in underlying components.
Turkish households expect their financial situation and the general economic situation in the country to improve in the year ahead. Subsequently, consumers grew more optimistic about the labor market outlook, with an expected drop in the unemployment rate in the next 12 months. As such, consumers’ probability to save also rose noticeably.
Author: Jan Lammersen, Economist