The consumer confidence index fell 1.6% m/m to a six-year low of 64.3 in May, the statistics office TUIK said on May 21.
Consumer sentiment fell as consumers appeared more pessimistic in the May survey about the economic outlook and job prospects. The sub-index measuring the general economic situation expectations over the next 12 months fell by 0.7% m/m while the probability of saving plunged 11.6% m/m in May.
The sub-index regarding consumers’ assessments of their present financial situations compared to the last 12 months declined 1.2% m/m after rising 1.7% m/m in April. Consumers, who were optimistic about job market in April, now expect unemployment to rise over the next 12 months, data of TUIK also showed. According to the survey, consumers expect inflation to rise over the next 12 months. The probability of buying a car and the probability of buying a house over the next 12 months also fell in May.
TUIK reported last month that the economic confidence index rose 3.6% m/m in April when consumer sentiment rose 1.5% m/m.
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TUIK's Consumer Confidence Sub-Indices |
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Dec-13 |
Nov |
Dec-14 |
Jan |
Feb |
Mar |
Apr |
May |
|
Consumer Confidence Index |
75.0 |
68.7 |
67.7 |
67.7 |
68.1 |
64.4 |
65.4 |
64.3 |
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Financial Situation Expectation of Household |
92.4 |
88.6 |
88.8 |
87.8 |
86.8 |
85.4 |
86.2 |
86.2 |
|
General Economic Situation Expectation |
101.9 |
90.5 |
91.8 |
91.5 |
90.9 |
86.3 |
86.1 |
85.5 |
|
Number of People Unemployed Expectation |
81.8 |
70.8 |
67.3 |
67.8 |
69.6 |
65.3 |
66.8 |
65.7 |
|
The probability of saving |
23.8 |
24.7 |
23.0 |
23.7 |
25.0 |
20.6 |
22.4 |
19.8 |
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Source: tuik |
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