Consumer sentiment reaches 20-month high in February
ANKARA
Turkish consumer sentiment rose in February to its highest level since June 2023, according to a survey conducted jointly by the Turkish Statistical Institute (TÜİK) and the Central Bank on Feb. 20.
The consumer confidence index, which was down 0.4 percent in January, increased by 1.4 percent month-on-month to 82.1 in February, showed the data.
The consumer confidence index indicates an optimistic outlook when it is above the 100-mark, but it indicates a pessimistic outlook when it is below 100.
The sub-index measuring households’ assessment of their financial situation rose 1.1 percent in February after rising 1.7 percent in the previous month.
The index of financial situation expectations of households over the next 12 months, which fell 1.7 percent in January, surged 3.1 percent in February.
The survey, however, showed that households appeared to be less optimistic about the overall economic outlook in February compared to January.
The monthly increase in the index of general economic situation expectation over the next 12 months slowed from 3 percent in January to 0.3 percent in February.
The index measuring consumers’ assessments on spending money on durable goods over the next 12 months rose 1 percent, comparing favorably with the 3.1 percent month-on-month decline recorded in January.
