Turkish consumer confidence rises for second consecutive month in April.

By bne IntelliNews April 28, 2014

The consumer confidence improved for the second consecutive month in April, the statistics institute TUIK said on Monday.

The consumer confidence index, that advanced 5% m/m in March, rose another 7.9% m/m in April, TUIK’s consumer tendency survey showed. The consumer index’s April score is the highest since March 2012, when the reading was 79.3. Note that, the index score was also 78.5 in July last year. The index dropped to a four-year low (69.2) in February 2014 following the corruption scandal and uncertainties over the outcome of the March local elections.

Households’ assessments of the general economic situation improved sharply in April with the corresponding index rising 11.6% m/m. The index showing households’ assessment of the current financial situation rose 1.4% m/m after advancing 4.6% m/m in March. Consumers expect unemployment to fall in the next 12 months, the survey also showed.

The index measuring the probability of savings in the next 12 months jumped 10.4% m/m after rising 9.6% m/m in March. The index measuring the probability of buying durable goods in the next 12 month rose 4.1% m/m after posting a 1% m/m increase in the previous month. The index for probability of buying a car rose 10.7% in April after falling 0.9% m/m in March.

Despite the improvement in consumer confidence in the past two months, the Central Bank expects that private final domestic demand will lose momentum this year as loan growth continues to slow and due to the effects of the tight monetary policy stance. Households’ final consumption expenditures that correspond to around 70% of Turkey’s GDP increased 5.3% y/y in the final quarter of 2013, up from 4.7% y/y in Q3. In the whole of 2013, households’ consumption rose 4.6% y/y against the 0.5% contraction in 2012.

Consumer Confidence Sub-Indices      
  Dec-2013 Mar Apr
Consumer Confidence Index 75,0 72,7 78,5
Financial Situation Expectation of Household 92,4 91,4 94,9
General Economic Situation Expectation 101,9 95,9 107,0
Number of People Unemployed Expectation 81,8 79,5 85,4
The probability of saving 23,8 24,1 26,6
Source: tuik      

Related Articles

Vote clears way for April referendum on Turkish executive presidency

Turkey’s parliament on January 21 approved constitutional reforms that, subject to a "yes" vote in a referendum, will pave the way for an executive presidential system that critics argue would ... more

Turkish exporters' association chief dismisses benefits of fast depreciating lira

The fast depreciation that has afflicted the Turkish lira in recent weeks does not bode well for the Turkish economy and the central bank should be more proactive in combating it when necessary, ... more

Turkish central bank releases $500mn of liquidity via new deposit swaps market

The Turkish central bank on January 18 provided around $500mn of liquidity with a maturity of one-week to Turkish lenders at the first auction held under the scope of the newly launched FX ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss