Turkey's consumer confidence index down 5.8% in April amid pandemic

Turkish consumers' confidence in the country's economy has fallen 5.8% this month amid coronavirus worries, the Turkish Statistical Institute (TurkStat) said Wednesday.

The consumer confidence index came in at 54.9 month-on-month in April, TurkStat data showed. Last month, the figure was 58.2.

The general economic situation expectation index was 74.8, down from 75.6 in March, a 1.1% decrease on a monthly basis.

"The financial situation expectation of household index for the next 12-month period, which was 78.6 last month, decreased 7.8% to 72.5 in April," it said.

TurkStat predicted that the expectation index for the number of people unemployed for a one-year period also dropped 6.7% to 53.8 in April.

 

 

"The probability of saving index in the next 12-month period, which was 21.2 in March, decreased 13.1% to 18.4 in April," it said.

The index value is jointly calculated by TurkStat and the Central Bank of the Republic of Turkey (CBRT) through measuring consumer tendencies.

On nearly 20 economic and financial criteria, consumers’ assessments and expectations for the next 12 months are measured in monthly tendency surveys.