Turkish consumer confidence slips in February

By Gokhan Ergocun

ISTANBUL (AA) – Turkiye’s consumer confidence posted a decline in February, according to latest figures released on Friday.

From 73.2 in January, the consumer confidence index slipped to 71.2 this month, data from the Turkish Statistical Institute (TurkStat) 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 household 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 household 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.​​​​​​​