Turkish consumer confidence slips in February amid deteriorating economy
Turkish consumer confidence dropped 2.8% to 71.2 points in February, but remained higher than a record low level it touched in December due to a slide in the value of the lira. A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.
Anadolu Agency
Turkey's consumer confidence posted a decline in February, according to the latest figures released on Feb. 18.
From 73.2 in January, the consumer confidence index slipped to 71.2 this month, data from the Turkish Statistical Institute (TÜİK) showed.
The index is a vital gauge of the economy’s overall, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.
All sub-indices fell this month, with the biggest drop seen in the financial situation expectation of households over the next 12 months, which dropped by 4.2% to 68.3.
The general economic situation expectation index tumbled by 3.8% to 71.7 in February, while the index for assessment on spending money on durable goods index over the next 12 months dropped by 1.7% to 89.4.
The financial situation of households at present index saw a decline of 1.6% to 55.2.
The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.