Turkey Consumer Confidence June 2016

Turkey

Turkey: Upward trend in consumer sentiment persists in June

June 22, 2016

The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, improved from May’s 68.8 to 69.4 in June. While the index hit a five-month high, consumer confidence remains far below the 100-threshold that separates pessimistic from optimistic territory.

June’s result came on the back of a sizeable improvement in households’ probability of savings in the next 12 months. Moreover, job prospects and households’ financial situation in the next 12 months also gained ground in June. On the other hand, consumers’ view of the economic situation in the next 12 months declined markedly in June.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.9% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel expects private consumption to grow 3.5%.


Author: Ricard Torné, Lead Economist

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Turkey Consumer Confidence June 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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