Turkish consumer confidence unchanged in January at 67.7

By bne IntelliNews January 22, 2015

The consumer confidence index that had fallen in the previous three months was unchanged from December at 67.7 in January, but still at a four-year low, the statistics office TUIK said on January 22.

There was a slight deterioration in households’ general economic situation expectations with the corresponding sub-index falling 0.3% m/m while households’ assessments of current general economic situation fell by a sharper 3% m/m. The participants of TUIK’s monthly survey appeared more optimistic about job market as they think unemployment would fall. The probability of saving over the next 12 months rose 2.9% m/m in January after falling 7% m/m in the previous month but the probability of taking loan to finance consumption fell 14.9% m/m versus a 10.7% m/m decline in December. Households expect consumer prices to decline in the next 12 months, the survey also showed.

The probability of buying a car that increased 12% m/m after falling 12.5% m/m while the probability of buying a house fell 1.9% m/m in January after rising 3.6% m/m in December.

Consumer Confidence Sub-Indices        
  Dec-13 Nov Dec-14 Jan
Consumer Confidence Index 75.0 68.7 67.7 67.7
Financial Situation Expectation of Household 92.4 88.6 88.8 87.8
General Economic Situation Expectation 101.9 90.5 91.8 91.5
Number of People Unemployed Expectation 81.8 70.8 67.3 67.8
The probability of saving 23.8 24.7 23.0 23.7
Source: tuik        
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