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Sep Economic Confidence Unchanged, Consumers Remain Deeply Pessimistic

TURKEY
MNI (London)
  • Overall Turkish economic confidence remained at the August level of 94.3 in September. A minor uptick was seen in consumer confidence, whilst services, retail and construction registered slightly larger improvements, cancelled out by a fall in manufacturing sentiment.
  • The indicator remained below the neutral breakeven of 100 for the eighth consecutive month, driven by strongly pessimistic consumer confidence.
  • Headline CPI forecasts expect a further 4pp jump to over 84% y/y in September. With the CBRT continuing to cut rates in another unorthodox monetary policy decision last week, consumers see their real income prospects continuing to dwindle.

Source: Turkstat

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