Türkiye's economic confidence down in February

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's economic confidence index declined by 0.5% to 99.2 in February from 99.7 in January, the Turkish Statistical Office (TurkStat) said on Thursday.

The figure marked a reversal of the previous month's 0.8% increase.

The services confidence index decreased by 1.9%, while the construction confidence index by 2.7% month-on-month.

On the other hand, consumer confidence index rose by 1.4%, retail trade confidence index 1.6% and real sector confidence index was up by 0.2% in the same period.

The economic confidence index, a key indicator of the overall economic situation, hovers between 0 and 200.

A reading above 100 indicates optimism about the overall economic outlook, while a value below 100 reflects a more pessimistic assessment.