The consumer confidence index rose to 68.1 in February from a four-year low of 67.7 in January, the statistics institute TUIK said on February 19.
The index measuring households’ current financial situation compared to the last 12 months rose by 0.6% m/m after falling 1.5% m/m in the previous month. The index measuring expectations on the financial situations over the next 12 months fell by 1.2% m/m versus a 1.1% m/m decline in January.
The participants of the TUIK’s monthly sentiment survey appeared more optimistic about job prospects and this was one the factors behind the increase in the headline confidence index. The index measuring households’ assessments of the current general economic situation rose 1% m/m in January after dropping 3% m/m in the previous month, but the index measuring the general economic outlook expectations in the next 12 months was down 0.7% m/m that came on top of the 0.3% m/m decline recorded in January.
The probability of saving over the next 12 months rose 5.5% m/m in February after rising 2.9% m/m in the previous month while the index measuring the probability of buying a car rose 4.1% m/m versus a 12% m/m increase. The probability of buying home showed a strong 10.7% m/m increase after falling 1.9% m/m in January.
According to the latest growth data of TUIK, households’ final consumption, which corresponded to 65.3% of GDP, rose only 0.2% y/y in the third quarter of 2014, after advancing 3.3% y/y in Q1 and rising 0.5% y/y in Q2.
|Consumer Confidence Sub-Indices|
|Consumer Confidence Index||75.0||68.7||67.7||67.7||68.1|
|Financial Situation Expectation of Household||92.4||88.6||88.8||87.8||86.8|
|General Economic Situation Expectation||101.9||90.5||91.8||91.5||90.9|
|Number of People Unemployed Expectation||81.8||70.8||67.3||67.8||69.6|
|The probability of saving||23.8||24.7||23.0||23.7||25.0|
Turkey’s Enerjisa, Memorial Health Group, Tab Gida and Baskent Gaz are considering public offerings in London or Istanbul, unnamed sources told Bloomberg on July 19. Enerjisa, a 50:50 JV ... more
Turkey has arrested and deported thousands of people suspected of having links to the Islamic State group according to a Turkish interior ministry report entitled “Turkey’s Fight ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more