Economic morale skids to 98.2 points in February

ANKARA

Economic confidence index dropped 2.6 percent month on month in February, according to figures released by the Turkish Statistical Institute (TÜİK) on Feb. 25.

From 100.8 last January, the index fell to 98.2, official data showed. A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 indicates a negative assessment.

All sub-indices declined, with the retail trade confidence index losing the most, 3.8 percent to 119.8 in February compared to the previous month.

The consumer confidence index fell 2.8 percent to 71.2, while the real sector confidence index dropped 1.8 percent to 109.9.
The services confidence index lost 1.2 percent to 118.7, while the construction confidence index decreased 3.3 percent to 82.7 in February compared to the previous month.

Economic confidence index is a composite index that encapsulates consumers’ and producers’ evaluations, expectations and tendencies about general economic situation.

The index is combined by means of a weighted aggregation of sub-indices of seasonally adjusted consumer confidence, real sector, services, retail trade and construction confidence indices.

Sub-indices used in the calculation of economic confidence index are calculated with data collected
in the first two weeks of each month.