Economic morale in Türkiye weakens in February

By Tuba Sahin

ANKARA (AA) - Confidence in the Turkish economy weakened in February compared to a month earlier, according to the country’s statistical authority on Monday.

The economic confidence index fell 0.3% month-on-month to 99.1 in February, following a 1.3% hike in January, the Turkish Statistical Institute (TurkStat) data showed.

All sub-indexes posted a decline in the month except for consumer confidence.

The construction confidence index slipped 3.6% to 89.8 in the month.

The retail trade confidence index dropped 2.4% from January to 123.1 in February, while the services confidence index was down 2.2% to 115.5.

The index for the real sector – manufacturing industry – edged down by 1% to 102.4 this month.

On the other hand, the consumer confidence index hiked 4.3% on a monthly basis to 82.5 in February.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 suggests a negative assessment.