Turkey: Consumer confidence inches up in January
February 14, 2012
In January, the consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank edged up to 92.2 points, from 92.0 points in December. Despite the improvement, consumer confidence remains below the 100-point threshold that separates optimistic from pessimistic territory, where it has idled since May 2006. At its current level, the index is 1.0% higher than in the same month last year. According to the Statistical Institute, the increase in the Consumer Confidence Index stemmed from improvements in consumers' assessments concerning their purchasing power in the next period as well as job opportunities in the next period. Low levels of consumer confidence do not bode well for private consumption going forward.