Thomson Reuters/Ipsos Turkey
Primary Consumer Sentiment Index (PCSI)
April
The Turkey Primary Consumer Sentiment (“Consumer Confidence”) Index (“PCSI”)
as measured by the Thomson Reuters/Ipsos PCSI for April,2017 is up 4.2
percentage points over last month.
The monthly PCSI result is driven by the aggregation of the four, weighted, subIndices: the PCSI Employment Confidence (“Jobs”) Sub- Index which is up 1.5
points; the PCSI Economic Expectations (“Expectations”) Sub-Index which is up 3.2
points; the PCSI Investment Climate (“Investment”) Sub-Index which is up 6.1
points; and the PCSI Current Personal Financial Conditions (“Current Conditions”)
Sub-Index which is up 6.3 percentage points over last month.
TURKEY PCSI 2012-2017 TREND
80
60
40
20
0
2010
2012
2011
2013
2014 2012
2015
2013
2016
2014 2017
2015
The Turkey Primary Consumer Sentiment (“Consumer Confidence”) Index (“PCSI”)
as measured by the Thomson Reuters/Ipsos PCSI for April,2017 is up 4.2
percentage points over last month. The monthly PCSI result is driven by the
aggregation of the four, weighted, sub-Indices noted below.
TURKEY PCSI 12 MONTH TREND
80
60
40.9
38.2
41.0
41.0
43.9
46.2
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
41.7
42.8
40.6
Nov-16
Dec-16
Jan-17
40
35.8
38.0
Feb-17
Mar-17
42.2
20
0
1
Apr-17
Thomson Reuters/Ipsos Turkey
Primary Consumer Sentiment Index (PCSI)
April
TURKEY SUB-INDICES 12 MONTH TREND
CURRENT
80
60
40
33.8
29.8
34.2
31.1
May-16
Jun-16
Jul-16
Aug-16
35.8
38.3
34.6
35.3
33.0
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
27.9
31.2
Feb-17
Mar-17
37.5
20
0
Apr-17
“Current Conditions” = perceived current personal financial conditions. The Turkey PCSI Current
Personal Financial Conditions (“Current Conditions”) Sub-Index for April 2017 is up 6.3 percentage
points over last month.
EXPECTATIONS
80
60
47.4
47.0
48.0
50.6
53.5
55.0
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
50.2
51.4
47.5
44.1
45.4
48.6
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
40
20
0
”Expectations” = perceived Economic Expectations combining both personal and community
economic outlook. The Turkey PCSI Economic Expectations (“Expectations”) Sub-Index for April 2017
is up 3.2 percentage points over last month.
INVESTMENT
80
60
40
36.7
32.2
May-16
Jun-16
38.0
33.8
37.2
40.4
37.4
38.2
36.7
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
29.4
34.1
40.2
20
0
Feb-17
Mar-17
Apr-17
”Investment” = perceived investment climate. The Turkey PCSI Investment Climate (“Investment”)
Sub-Index for April 2017 is up 6.1 percentage points over last month.
JOBS
80
60
44.5
42.7
44.1
46.9
50.2
50.5
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
43.4
46.7
44.2
41.6
41.1
42.6
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
40
20
0
”Jobs” = current job security, outlook on job security and retrospective on job security. The Turkey
PCSI Employment Confidence (“Jobs”) Sub-Index for April 2017 is up 1.5 percentage points over last
month.
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Thomson Reuters/Ipsos Turkey
Primary Consumer Sentiment Index (PCSI)
is conducted and calculated by Ipsos Public Affairs
METHODOLOGY
•
These are findings of an Ipsos online poll conducted March 24 to April 7, 2017. For this survey, a sample of 500 adults from Ipsos'
Turkey online panel aged 16-64 was interviewed online. As this is an online poll in Turkey, representative of the online community in
the country, it is not reflective of the general population; however, the online sample in is particularly valuable in their own right as
they are more urban, educated and have more income than their fellow citizens and often referred to as “Upper Deck Consumer
Citizens” or Primary Consumers. The precision of the Thomson Reuters/Ipsos online polls is measured using a Bayesian Credibility
Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults. For more information on
the Bayesian Credibility Interval please see http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=5836
•
The Thomson Reuters/Ipsos Turkey Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of
consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make
large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and,
Jobs Index. The PCSI Index is benchmarked to a baseline of 100 assigned at its introduction in January 2010. Index number is
calculated by utilizing data from the survey results. Responses are divided into aggregated Top Box (Reward) numbers and Bottom
Box (Penalty) numbers. Using Shapely Value Analysis, values were generated for the penalty and reward for each question. The
magnitude of each question is the difference between the reward and penalty. An Importance factor, which the ultimate weight of the
particular question in the index, is the magnitude of each question divided by the total magnitude of all questions. A Top Box Weight
for each question is calculated by dividing the Reward by the magnitude of each question. Similarly, the Bottom Weight for each
question is calculated by dividing the Penalty for each question by magnitude of the same. The Index Value for each question is
calculated by using the formula: Importance x (Top Box Wt * Top Box %) - (Bottom Box Wt * Bottom box %).
•
The questions used for the PCSI are as follows:
•
Now, thinking about our economic situation, how would you describe the current economic situation in Turkey? Is it… very good, somewhat good,
somewhat bad or very bad
•
Rate the current state of the economy in your local area using a scale from 1 to 7, where 7 means a very strong economy today and 1 means a
very weak economy.
•
Looking ahead six months from now, do you expect the economy in your local area to be much stronger, somewhat stronger, about the same,
somewhat weaker, or much weaker than it is now?
•
Rate your current financial situation, using a scale from 1 to 7, where 7 means your personal financial situation is very strong today and 1 means
it is very weak
•
Looking ahead six months from now, do you expect your personal financial situation to be much stronger, somewhat stronger, about the same,
somewhat weaker, or much weaker than it is now?
•
Compared to 6 months ago, are you NOW more or less comfortable making a major purchase, like a home or car?
•
Compared to 6 months ago, are you NOW more or less comfortable making other household purchases?
•
Compared to 6 months ago, are you NOW more or less confident about job security for yourself, your family and other people you know
personally?
•
Compared to 6 months ago, are you NOW more or less confident of your ability to invest in the future, including your ability to save money for
your retirement or your children’s education?
•
Thinking of the last 6 months, have you, someone in your family or someone else you know personally lost their job as a result of economic
conditions?
•
Now look ahead at the next six months. How likely is it that you, someone in your family or someone else you know personally will lose their job in
the next six months as a result of economic conditions?
About Ipsos
•
Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975,
Ipsos has grown to a worldwide research group with a strong presence in all key markets and is the world’s third largest market
research company. With offices in 87 countries and over 15,600 employees, Ipsos delivers insightful expertise across five research
specializations: Ipsos Connect – the Media and Brand Expression Research Specialists; Ipsos Marketing – the Innovation and
Brand Research Specialists; Ipsos Public Affairs – the Social Research and Corporate Reputation Experts; Ipsos Loyalty – the
Customer and Employee Research Specialists; and, Ipsos Observer— the Survey Management, Data Collection and Delivery
Specialists. Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,669.5 million in
2014. For more information go to http://www.ipsos-na.com/
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