Economic confidence index declines in February

ANKARA

Türkiye's economic confidence index declined by 0.5 percent to 99.2 in February from January, after rising in the previous two months, the Turkish Statistical Institute (TÜİK) said.

The index was up 0.8 percent monthly in January.

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

Consumer confidence rose by 1.4 percent month-on-month, comparing favorably with the 0.4 percent decline in January.

The real sector confidence index rose by 0.2 percent, marking the reversal of the previous month’s 0.1 percent decline.

The outlook in the services sector deteriorated, with the confidence index for this sector decreasing by 1.9 percent after surging 2.5 percent monthly in January.

The construction confidence index, which rose 2.6 percent in the previous month, fell by 2.7 percent in February.

On the other hand, the confidence in the retail trade industry improved for the second month in a row. The confidence index rose 1.6 percent in February after advancing 1.4 percent in January.

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