bne:Chart - Turkish consumer confidence hits all-time low

By bne IntelliNews September 22, 2015

Henry Kirby in London -


Turkey's economic problems showed no signs of improving as the country’s consumer confidence index hit a record low of 58.5 in September.

The fall comes amid a period in which the lira has suffered dramatically as a result of a surging US dollar and concerns over instability in Turkey, with the Turkish currency losing over 12% of its value against the greenback in only two months.

At a time when Turkey – a net energy importer  should be benefiting from low oil prices, its high dollar debt exposure has cut short any cause for celebration.

As the first bne:Chart shows, the sharpest falls in both the consumer confidence and economic expectations indices came immediately after the parliamentary election in June, which produced a hung parliament..

The current political uncertainty is adding to the pressure on Turkish markets, with a November election looking unlikely to produce the parliamentary majority that might help improve the investor climate. As the second bne:Chart shows, Turkish equities have steadily fallen since the inconclusive June election.


Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

Related Articles

Turkey approaches day of reckoning on economic reform

Kivanc Dundar in Istanbul -   The unexpected success of President Recep Tayyip Erdogan’s Justice and Development Party (AKP) in this month’s general election should bring much-desired political ... more

Macedonia kept on hold as Balkans edges towards EU goal

Clare Nuttall in Bucharest -   Macedonia’s EU accession progress remains stalled amid the country’s worst political crisis in 14 years, while most countries in the Southeast Europe region have ... more

Turkey and America seen on course for confrontation in Syria war

John Davison of Exaro - Military action by Turkey against Kurdish rebel forces in Syria raises the prospect of a direct clash with the ... more