Consumer Confidence Falls To 6-Year Low Level In March

- Turkish consumer confidence fell to its 6-year low levels, with sharp fall at probability of savings and unemployment expectation, in March.

The consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Turkey decreased by 5.4 percent in March compared to the previous month, while the index was 68.06 in February it dropped to 64.39 in March, lowest level since January 2010.

The consumer confidence index calculated from the survey results is evaluated within the range of 0-200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.

Sharp fall in probability of saving

The probability of saving index fell by 17.5 percent to 20.61 in March from 25.0 in February.

This decrease shows that the possibility of saving of consumers in the next 12 months period decreased compared to the previous month.

Financial situation expectation

The financial situation expectation of household index fell by 1.6 percent to 85.37 in March, against the previous month.

This fall reflected the decrease in the ratio of better financial situation expectation of household in the next 12 months period.

General economic situation expectation worsens

The general economic situation expectation index which was 90.87 in February fell down by 5 percent to 86.30 in March.

This decrease shows that number of consumers expected a better general economic situation in the next 12 months decreased compared to the previous month.

Unemployment expectation falls

The number of people unemployed expectation index decreased by 6.3 percent to 65.28 in March, compared to the previous month.

This decrease stemmed from the increase in the ratio of people expecting an increase in the number of unemployed persons in the next 12 months.

In monthly consumer tendency survey, consumers’ assessments on current situation and their expectations for personal financial standing and general economic situation have been evaluated, their expenditure and saving tendencies for near future have been measured.