Türkiye’s economic confidence index falls to 99.0 in February

Turkish Statistical Institute announced on Wednesday that the economic confidence index stood at 99.0 in February, marking a 0.4% decline from January’s figure of 99.4.

According to the institute’s statement, the consumer confidence index experienced a notable decrease of 1.3%, reaching 79.3. Conversely, the real sector (manufacturing industry) confidence index decreased by 0.9% to 102.0.

Meanwhile, the services confidence index saw a 1.6% increase, reaching 118.6. In contrast, the retail trade confidence index dropped by 1.0% to 114.5, while the construction confidence index increased by 1.0% to 91.8 compared to the previous month.

Overall, the February economic confidence data highlights a cautiously optimistic outlook for the Turkish economy. While some sectors exhibit concerns, others remain positive, indicating a dynamic and evolving economic landscape. It will be crucial to monitor future trends and assess the impact of various economic policies to gain a deeper understanding of the country’s economic trajectory. (ILKHA)