CONSUMER CONFIDENCE SLIPS IN FEBRUARY

The consumer confidence index dropped by 2.8% from 73.2 points to 71.2 points in February, compared to the previous month, according to the Turkish Statistical Institute (TurkStat). All sub-indices fell in February, with the biggest drop seen in the financial situation expectation of households 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 the assessment of spending money on durable goods over the next 12 months dropped by 1.7% to 89.4. The financial situation of households at present index saw a decline of 1.6% to 55.2. The index is a vital gauge of the economy’s overall performance, indicating people’s sentiments on financial standing and the general economic situation as well as expenditure and saving tendencies.