Turkish Consumer Confidence Recovers From 6-Year Low Level

- Consumer confidence in Turkey recovered by 1.5 percent in April, from its 6-year low levels in March, with improvement at probability of savings and unemployment expectation, according to the Consumer Confidence Index data released by Turkstat on Wednesday.

The consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turksat and Central Bank of Turkey, increased by 1.5 percent in April to 65.35 in April, up from 64.39 in March.

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.

The highest positive impact on the recovery came from probability of saving of the consumers, which increased by 8.5 percent to 22.37 in April, from 20.61 in March. This increase shows that the possibility of saving of consumers in the next 12 months period increased compared to the previous month.

The number of people unemployed expectation index increased by 2.2 percent compared to the previous month and became 66.75 in April. This increase stemmed from the decrease in the ratio of people expecting an increase in the number of unemployed persons in the next 12 months.

The financial situation expectation of household index increased by 0.9 percent compared to the previous month and became 86.16 in April. This increase resulted from the increase in the ratio of better financial situation expectation of household in the next 12 months period.

The only negative impact came from the general economic situation expectation index, which fell by 0.2 percent in April to 86.12, down from 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.