Turkish Consumer Confidence Dips in March 2026

The latest Consumer Tendency Survey, conducted in collaboration between the Turkish Statistical Institute (TÜİK) and the Central Bank of the Republic of Turkey (TCMB), reveals a growing sense of caution among Turkish households. The Turkish Consumer Confidence Index, a vital barometer for future economic activity, fell by 0.8% in March 2026, dropping from 85.7 in February to 85.0.

Subject decline suggests that while immediate financial conditions have shown slight improvement, long-term anxiety regarding the national economy is beginning to weigh on consumer sentiment.

The Dichotomy of Household Finances

The March 2026 data present a complex picture of the Turkish domestic economy. While the overall index fell, there was a notable divergence between current reality and future expectations:

• Current Financial Situation: The index for the “Financial situation of the household at present” rose by 2 percentage points, from 71.3 to 72.8. This suggests that recent wage adjustments or seasonal income boosts may have provided temporary relief to families.

• Future Financial Expectations: Conversely, the “Financial situation expectation of the household over the next 12 months” dropped by 1.3% to 85.6. This indicates that consumers do not believe their current marginal gains are sustainable in the face of projected inflation and rising energy costs.

Turkish Consumer Confidence: Pessimism in the General Economy

The most significant downward pressure on the index came from the “General economic situation expectation.” This sub-index declined sharply by 2.9%, from 81.4 to 79.1. This reflects broader public concerns regarding the ongoing blockade in the Strait of Hormuz, fluctuating fuel prices, and the potential for a new wave of food inflation.

Spending Appetite: Durable Goods on the Decline

The survey also tracks the “Assessment on spending money on durable goods over the next 12 months,” which serves as a leading indicator for the retail and manufacturing sectors. This index fell by 0.5% to 102.7. While a value above 100 technically indicates an optimistic leaning toward spending, the downward trend suggests that consumers are starting to postpone major purchases—such as white goods, electronics, and furniture—as they prioritize essential spending for the upcoming Ramadan season and beyond.