Consumer Confidence Index in Türkiye, May 2023
Consumer confidence index realized as 91.1
Consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Türkiye increased by 4.0% in May compared to the previous month. The index became 91.1 in May while it was 87.5 in April.
Consumer confidence index, sub-indices and rate of changes, May 2023
| Index | Percentage change over the previous month (%) |
|||
|---|---|---|---|---|
| April | May | April | May | |
| Consumer confidence index | 87.5 | 91.1 | 9.2 | 4.0 |
| Financial situation of household at present | 69.1 | 70.6 | 4.6 | 2.2 |
| Financial situation expectation of household over the next 12 months | 89.8 | 94.0 | 12.8 | 4.7 |
| General economic situation expectation over the next 12 months | 95.2 | 100.5 | 14.7 | 5.7 |
| Assesment on spending money on durable goods over the next 12 months | 96.1 | 99.1 | 4.5 | 3.1 |
The next release on this subject will be on June 19, 2023.
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EXPLANATIONS
In monthly consumer tendency survey, consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies are measured.
The consumer confidence index calculated from the survey results is evaluated within the range of 0-200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.
The increase in probability of borrowing money index, which is the one of the indices concerning consumer tendency indicates an optimistic outlook while decrease in index indicates a pessimistic outlook. Similarly, increase in assessment and expectation in consumer prices change rate indices indicate a decrease in assessment/ expectation in consumer prices and vice versa. The increase in number of people unemployed expectation index indicates decrease of number of people unemployed expectation, whereas decrease indicates increase of number of people unemployed expectation.
No seasonal effect has been determined in the sub-indices used in the calculation of the consumer confidence index since January 2023. Detailed information on this subject is submitted in the metadata section.
Source: TurkStat
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